Steven Eagell Group has added to its Lexus representation with the acquisition of Lexus Milton Keynes from the AM100-topping Sytner Group.
Milton Keynes-based Steven Eagell Group joined the Lexus network with the acquisition of Hatfield Lexus from Lookers in September 2016 and added a further two locations – and six Toyota sites – in Cambridgeshire, Essex and Suffolk in a deal with Jardine Motors Group back in February.
Now the total number of branches operated by the privately-owned business totals 22 (18 Toyota and 4 Lexus).
Steven Eagell Group managing director, Steven Eagell, said: “Lexus Milton Keynes is a perfect geographic fit within the group’s territories and will complement our existing business.
“This is an exciting opportunity to further our relationship and success with the prestigious Lexus brand and take full advantage of the scale and benefits of sharing best practice across this wider geographic area to benefit our customers.
“We are looking forward to welcoming the team into our group and working with them to continue the growth and success of the business.”
In the year to December 31, 2016, the Steven Eagell group , which started life as a result of Toyota’s sponsored dealership programme, achieved a turnover of £199.6 million, a rise of over 38%.
Profit before tax during the period was £4.6 million, meanwhile, an increase of over 31% on the prior year.