Brayleys Cars has more than doubled its representation of Honda with the acquisition of Thames Honda for an undisclosed sum.
The Hertfordshire-based AM100 retail group, which welcomed Dubai’s AW Rostamani Group as a majority shareholder at the end of 2018, has added four more sites with the Japanese car brand with completion of the deal this week.
The purchase of the new locations – a recently updated Ruislip facility, Ewell, Leatherhead and Thames Ditton – marks the first organic growth for Brayleys since AW Rostamani Group’s entry the UK automotive sector.
Brayleys new Honda franchises join the group’s existing locations with the brand in Enfield, St Albans and Hemel Hempstead and it is anticipated that the trading names will change to Brayley Honda.
News of Brayley’s expansion with more Honda sites comes just weeks after the brand told AM that a shift in strategy to ensure the profitability of its retailers would see it shed up to 55 of its 155 franchised retail sites in the next “two to three years.”
Brayleys also represents Kia, Mazda, Renault and Dacia at 15 sales points throughout the Home Counties, Greater London and Thames Valley.
The company achieved record turnover of £120 million in 2018.
Commenting on the acquisition of Thames Honda, Brayley’s managing director Paul Brayley, said: “For over 13 years Thames Honda has developed into a successful Honda retailer serving customers across the South East and North West London territories.
“The company has built up a good reputation and shares Brayleys’ philosophy of putting customers and staff at the heart of the business.
“Our purchase of the group comes at an exciting time in Honda’s product cycle with several new hybrid and pure electric model launches starting this year, so I am looking forward to welcoming all the Thames Honda staff into the Brayleys family and further strengthening our partnership with the Honda brand.”
Having founded Brayleys 16 years ago with a single Honda outlet in St Albans, Paul Brayley continues to run the business with his long-serving management team, supported by two senior executives of AW Rostamani Group, who joined the board six months ago.
Khalid Al Rostamani, the chairman and chief executive of AW Rostamani Group, said: “The acquisition of Thames Honda is the second step in our focused strategy to build our business in the UK, which is a key automotive market for AW Rostamani Group.
“In developing Brayleys with Paul and his team, we will continue to assess opportunities for future investment, which we consider to be a perfect fit with our vision for growth.”
The deal was brokered by Paul Burrows and Adam Furrer at Grant Thornton.