Riverside Motor Group has become Yorkshire’s largest Volvo Car UK franchisee with the acquisition of Marshall Motor Group’s dealership in Leeds.
The move sees the £190.8 million turnover AM100 car retail group add its fourth franchise with the Swedish premium car brand in addition to its existing locations in Doncaster, Hull and Wakefield.
It leaves Constellation Automotive-owned Marshall with eight Volvo sites.
All staff will be retained at the Riverside Volvo Leeds dealership on Sackville Approach, Leeds, as part of the acquisition, which was officially completed on December 16.
Riverside managing director Mark Denton said: “We are delighted to have acquired our fourth Volvo retailer and expand our footprint across Yorkshire.
“As a privately owned and run business, we will continue to work hard to achieve excellent customer and employee satisfaction. We look forward to meeting customers old and new soon and we can’t wait to share all the great news with everyone.”
“Leeds is a thriving city and we are delighted to become a part of it. I am sure there is a huge potential for Riverside and the Volvo brand to showcase the outstanding range of Volvo models.”
Riverside’s Volvo Leeds acquisition comes 17 months after it added Harratts’ Honda dealership in Wakefield to its franchise portfolio.
That acquisition helped to grow the group’s turnover by 24%, from £153.5m to £190.8m during the period ended December 31, 2021, as pre-tax profits rose by 37.3% to £7m (2020: £5.1m).
As well as record financial results, Riverside also celebrated 40 years in business earlier in 2022.
Marshall’s disposal of its Volvo Leeds business comes just over two months after recent Kia disposals completed its exit from the Korean car brand.
Donalds Group officially took over the operation of the Kia UK Ipswich dealership in October after Drayton Motors took on the former Marshall’s Kia franchise in Scunthorpe.
If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.
Login to comment
No comments have been made yet.