Perrys Group has acquired GK Group Ltd for an undisclosed sum.
Perrys already operates 46 showrooms in 26 locations across the country and the addition of GK Group brings the total to 53 dealerships.
Chesterfield-based GK Group runs five Ford showrooms, one Mazda showroom, one Kia showroom and an accident repair centre in Worksop.
The company employs 400 members of staff and has a turnover of circa £175 million.
GK Group was owned by George and David Kenning and their families. George and David will be retiring after the sale and Paul Rogers, the GK managing director, will be joining Perrys.
George Kenning said: “Perrys are a strong, highly successful, privately owned business with a reputation for excellence. We are delighted that this sale offers our staff enhanced security and better opportunities for the development of their future careers.”
This will be the largest acquisition that Perrys have made since its management buyout in 2001.
Chairman Ken Savage said: “We are very happy to announce the acquisition which extends our relationship with Ford, Mazda and Kia.
“The addition of GK Group will make a great fit for Perrys with our new dealerships located just south of our existing sites in Yorkshire.
“The group’s ongoing success can be credited to its commitment to the core values of customer care, high-quality vehicles and staff retention. I am sure everybody will welcome the GK staff into Perrys and make them feel part of the team.
“Alongside the arrival of new franchises in the last few years, such as Nissan in 2013 and Hyundai in January of this year, the addition of GK Group Ltd will add considerable scale to the group.”
The deal was brokered by UHY Automotive partner David Kendrick who represented GK Group.
He said: “GK Group is one of the oldest Ford dealer groups in the country and has a very strong reputation. We are delighted to have assisted the shareholders with their exit and I have no doubt that the acquisition will add significant value to Perrys group moving forward.”
Perrys will now operate seven Ford businesses, six Mazda and four Kia in England, in addition to their existing 15 Vauxhall, one Jaguar, a Land Rover, six Peugeot, three Citroen, two Fiat, one Hyundai, one Nissan, one Renault, one Dacia and one Seat dealerships.
This news follows last week’s announcement that work has started on Perrys’ new £7m, multi-franchise development in Preston.
Expected to open in April 2016, the move from their Blackpool Road premises will see new Mazda, Kia and Vauxhall showrooms off junction 13a of the M6.
Jeremy has been a journalist for 30 years, 20 of which have been in business-to-business automotive. He was a writer and news editor on AM-sister brand Fleet News for three years before setting up the AM website. For the last five years he has been Bauer B2B’s head of digital helping to manage the digital assets of AM, together with Fleet News, Commercial Fleet, Rail and Smart Transport.
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