Vertu drives off with Ford dealerships
Vertu Motors has acquired two Ford dealerships in Bolton and Wigan, as well as two satellite operations in the region, from Gordons for £11m.
The 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 (Boltons) Ltd 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, which is based in Gateshead, now operates a total of 114 sales and aftersales outlets across the UK.