Shukers Ltd has acquired the full share capital of Aberystwyth Land Rover and Hyundai retailer Cambrian Garages for an undisclosed sum.
Shukers Ltd, which operates under parent company Rubery Owen and also represents Land Rover at a new £3.5 million showroom in Ludlow, returns to a two-site Land Rover operation with the deal which comes after it sold its Shrewsbury Land Rover dealership to Hatfields last year.
Cambrian Garages, who were advised by David Kendrick, Automotive Partner at UHY Hacker Young have represented Land Rover in the territory since 1998 and added the Hyundai franchise in 2008.
All of the staff and management have been retained by Rubery Owen.
Richard Jenkins, chief executive of Rubery Owen, said: “We are delighted to have completed the acquisition of Cambrian Garages which is a very similar business to the existing dealership we operate in Ludlow.
“It was always our plan to expand with JLR after the sale of Shrewsbury and this acquisition forms very much part of that plan.
“We look forward to welcoming our new colleagues into the group and developing the Aberystwyth business as Land Rover enter an exciting period with the launch of the all new Discovery, the forthcoming launch of the Range Rover Velar later in 2017 and the return of the Defender in 2018.”
David Kendrick, partner at UHY Hacker Young, who advised the shareholders of Cambrian Garages with the sale, said: “We have seen a significant amount of change within the JLR network and having been involved in the Shrewsbury transaction back in 2016 we were aware of Rubery Owens desire to increase their portfolio with JLR.
“This acquisition fits very well with their existing site and has a very similar demographic so we have no doubts that it will work well for everyone involved.
“Q1 is looking like it will deliver some very strong results, with what we imagine will be a significant number of vehicle registrations, most likely to be ahead of last year.
“We are still seeing plenty of transactional activity going on out there in the market as the consolidation continues.”
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