North East motor group announces £4.7m acquisition

A North East motor group has announced the acquisition of three Volkswagen dealerships for £4.7 million.

Vertu Motors plc, of Gateshead, have acquired Brookside Limited, who operate the dealerships - two in Nottingham and one in Mansfield.

Vertu, who acquire and consolidate UK motor retail businesses, reported in August a 33.3% increase in revenue, while, for the year 31 December 2012, Brookside showed a turnover of £35.7 million.

Robert Forrester, CEO of Vertu Motors said: “We are delighted to announce the next step in our growth with Volkswagen and the Volkswagen Group. Volkswagen provides customers with a strong, high quality product offering at attractive prices, and the Vertu Volkswagen name will now gain real critical mass as we develop its presence in the East Midlands.

“Nottingham and Mansfield are important centres where Vertu already represents several manufacturer partners including Citroen, Hyundai, Honda and Suzuki. Adding Volkswagen to this list will further strengthen our business.

“We are continuing to develop the Group by adding to existing franchise relationships and exploring new manufacturer partners. This acquisition increases the Group to 104 sales and aftersales outlets and will enable us to generate further profitable growth for our shareholders.”

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