Vertu motors ahead with Ford acquisitions
 
Mon, 10th November 2014
 
 

Vertu motors ahead with Ford acquisitions

By Matthew Ord, Digital Staff Writer

Vertu Motors has acquired two Ford dealerships in the North West, as well as two satellite operations in the region, from Gordons for £11m.

The Gateshead-headquartered company has increased its representation with Ford to 22 outlets after the acquisition of the Bolton and Wigan dealerships.

The Wigan property includes a development site, on which a new Ford dealership will be built over the next six months to allow relocation from the current premises.

The satellite operations are based in Walkden and Horwich.

The Gordons business has represented Ford in Lancashire for more than 100 years and employs 218 staff across the four locations, which will remain employed under Vertu's ownership.

Robert Forrester, chief executive of Vertu, said the acquisitions will bring some "substantial freehold property assets" to the group.

The dealerships are expected to be earnings neutral in the first full year of ownership and earnings enhancing in the financial year starting 1 March 2016.

Vertu now operates a total of 114 sales and aftersales outlets across the UK.

 
 
category North East  |  source Insider Media