| Lookers announces Bramall & Jones acquisition |
| Tuesday, 15 April 2008 | |||||||||
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Lookers, the UK's 5th largest car dealer group, has announced that it intends to acquire Bramall & Jones VW for £2m. The company comprises of two Volkswagen dealerships and a contract hire and leasing business.  The deal will increase Lookers' VW representation to 11 sites and offers it entry into the contract hire market with a fleet of around 1,500 vehicles.
Lookers' announcement will not come as a surprise to many in the industry. Bramall & JonesTony Bramall, who owns a 51 per cent stake in Bramall and Jones, is also a non-executive director of Lookers with a stakehold of around 20 per cent.
Ties between the two groups were strengthened further last week when Lookers announced it had appointed Peter Jones, co-founder of Bramall & Jones, to the newly-created position of operations director, motor division.
At the time Jones played down press reports that Bramall & Jones were actively seeking to sell some of its showrooms and had been courted by rival businesses.
“We've never put anything openly on the market,” said Jones, who added that the last sale was its Derby-based VW operation, which was bought by Sytner in December.
Completion of the acquisition is expected to take place on 1 May.
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Comments (2)
rb
said:
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cant believe this wa... cant believe this was coming, does this mean that tony bramall will be taking over at lookers, all his pawns falling in nicely ie gary car supermarket tombs , next thing the supermarkets will go into profit ...........yeah right and pendragon will not sell any more sites |
rb
said:
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i thought that they ... i thought that they were not selling the businesses as they were running smoothly. good to see no help involved in selling these hey mr brammall next the car supermarkets will make money |
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