Partner Article

Vertu snaps up new businesses

NEWCASTLE motor dealer Vertu has invested £1.5m in taking two Vauxhall franschises from administration, saving the jobs of 75 workers in the process.

The firm has acquired the sites from Baker (Crewe) Limited, of which £1.3m relates to freehold property and £0.2m to fixed assets.

In a separate transaction Vertu has acquired the working capital for the two businesses, in Crewe and Macclesfield, which will amount to some £2m on an ongoing basis. No goodwill has been paid.

The company said the move further develops strong its regional concentration, building on the presence of Stoke Ford, Crewe Ford and Widnes Motor Nation operations and complementing the Group’s existing Vauxhall operations in the adjacent territories of Chesterfield and Matlock.

Chief executive Robert Forrester said: “Vertu will benefit from building a stronger regional concentration and there is considerable scope to integrate these dealerships onto Vertu’s scalable platform.

“This acquisition provides us with excellent opportunities to strengthen the Group’s relationship with Vauxhall, one of our key manufacturer partners.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .