9:41 am, January 14, 2013
WALTER C BRIGG Vauxhall in Keighley has been acquired by Vertu Motors plc.
Joining 93 other Vauxhall outlets in the firm’s portfolio, the Keighley business ‘and certain assets of the outlet’ have been acquired for a sum of around £1.1 million.
The buy-up will extend Vertu’s ever increasing presence in the north of England. In addition to their Vauxhall dealers in Sunderland, Durham, Newcastle and Hexham, they recently also purchased an outlet in Carlisle, Cumbria.
Accounts of the business dated for the year ending September 2012 showed a turnover of £8.2 million, and an operating profit of £0.1 million.
‘2013 has started with two acquisitions for the Group following on from a very strong period of growth in 2012,’ commented CEO of Vertu, Robert Forrester.
‘The acquired Keighley business increases the number of outlets in Yorkshire to six as we seek to grow scale in the region. Our newly acquired businesses will be integrated into the Vertu business to drive increased profitability and to generate shareholder value.’
