Motorline Group has completed acquisition of Hereford Hyundai from Stirling of Hereford for an undisclosed sum.
Motorline had brought its total number of Hyundai dealerships to seven with the addition of the business in Hereford which adjoins its existing Toyota franchise on Ross Road.
The group now plans to redevelop the site to create two new facilities for both Toyota and Hyundai, it said in a statement.
Glen Obee, chairman, Motorline Group, said: “We are delighted to have completed this deal and to have been able to add Hyundai Hereford to our growing relationship with Hyundai UK”
Porch 2005 Ltd is owned by Phil Harvey and his wife, Carol Harvey, and has operated a dual franchised business for almost a decade.
The Motorline transaction leaves Stirling with the remaining Suzuki business that has operated on the existing premises for 25 years.
Phil Harvey, Stirling’s managing director, said “We were pleased to have been part of Hyundai’s growth and been able to put Hyundai on the map in Hereford.
“However, with the growth of both franchises, we have been representing our facility could no longer cope with both volumes.
“We are delighted however that the Hyundai franchise will be in good hands and our customers receive an excellent service.”
ASE, Corporate Finance Executive, Adam Cottam, who brokered the deal and advised Stirling of Hereford, said: “This is a great move for both sides, it allows Motorline to continue their ambitious growth plans and anchor their presence in the area whilst enabling Phil to focus on the Suzuki brand and free up some capital.”