Lookers completes £53m Dutton Forshaw deal

Monday, 29 October 2007

Lookers, the UK's fifth largest dealer group, has completed the multi-million pound acquisition of Dutton Forshaw.

The £53m deal will see 31 Dutton Forshaw and Dovercourt dealerships transfer to the Manchester-based group.

“We are delighted to welcome our new colleagues into the group and look forward to developing the operations as part of the enlarged Lookers business,” said Lookers chief executive Ken Surgenor. Dutton Forshaw will increase Looker's total number of Ford outlets from one to eight, Mercedes-Benz outlets from four to eight and VW outlets from five to nine. The acquisition, from Lloyds TSB, also signals the end of the banking sector's interest in the automotive industry – the Dutton Forshaw sale leaves no banking stake among the top 30 dealer groups.

05 Oct 2007 - Lookers deal sees banks exit the motor trade
03 Oct 2007 - Lookers swoops on Dutton Forshaw in £60m deal
03 Sep 2007 - Lookers achieves record half-year results

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JT said:

	What a fantastic res... What a fantastic result for the staff of Dutton-Forshaw. They will intergrate easily into Lookers and vice-versa as both companies share the same ethics. Lookers are probably the best dealer group to work for.
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