- Joined
- Mar 12, 2005
- Messages
- 7,616
- Location
- Cheshire, UK
- Car
- C270CDi Estate (late 2004 facelift model) - Bought 2005, Sold 2022.
I guess this means they've bought Road Range - any thoughts?
INCHCAPE EXPANDS ITS UK MERCEDES-BENZ INTERESTS
Inchcape plc (Inchcape), the international automotive services group, today announces the acquisition of the Robert Smith Group Limited, and its subsidiaries, which consists of six Mercedes-Benz dealerships and one smart dealership. Inchcape now has a UK representation of fourteen Mercedes-Benz dealerships including the largest contiguous territory for Mercedes-Benz and smart in the UK.
The acquisition, on 6 April 2005, and its subsidiaries, adds Mercedes-Benz dealerships in: Liverpool, Warrington, Chester, Southport, West Kirby and Llandudno to Inchcape’s portfolio. The new smart dealership is located in Liverpool. Together, these sites generated new car sales of some 2,100 units and used car sales of 1,100 units in 2004.
The total cash consideration paid for the business will be c. £18.1m, subject to finalisation of completion accounts, and includes around £7.2m in respect of goodwill.
These new dealerships create a further scale market area for Inchcape. The largest single contiguous territory in the UK for Mercedes-Benz was created in 2004 when Inchcape acquired dealerships in Nottingham, Leicester, Derby, Mansfield and Loughborough adding to its original market area of Coventry, Stratford-upon-Avon and Oxford.
Peter Johnson, Group Chief Executive of Inchcape, commented:
“This acquisition demonstrates our commitment to build upon our relationship with Mercedes-Benz, and leaves us well placed to continue delivering on our UK growth strategy of representing between 5.0% to 10.0% of our chosen partners’ national sales volumes.
“Inchcape’s success in building scale contiguous territories should result in enhanced returns for our shareholders whilst, importantly, improving our service levels to our customers.”
INCHCAPE EXPANDS ITS UK MERCEDES-BENZ INTERESTS
Inchcape plc (Inchcape), the international automotive services group, today announces the acquisition of the Robert Smith Group Limited, and its subsidiaries, which consists of six Mercedes-Benz dealerships and one smart dealership. Inchcape now has a UK representation of fourteen Mercedes-Benz dealerships including the largest contiguous territory for Mercedes-Benz and smart in the UK.
The acquisition, on 6 April 2005, and its subsidiaries, adds Mercedes-Benz dealerships in: Liverpool, Warrington, Chester, Southport, West Kirby and Llandudno to Inchcape’s portfolio. The new smart dealership is located in Liverpool. Together, these sites generated new car sales of some 2,100 units and used car sales of 1,100 units in 2004.
The total cash consideration paid for the business will be c. £18.1m, subject to finalisation of completion accounts, and includes around £7.2m in respect of goodwill.
These new dealerships create a further scale market area for Inchcape. The largest single contiguous territory in the UK for Mercedes-Benz was created in 2004 when Inchcape acquired dealerships in Nottingham, Leicester, Derby, Mansfield and Loughborough adding to its original market area of Coventry, Stratford-upon-Avon and Oxford.
Peter Johnson, Group Chief Executive of Inchcape, commented:
“This acquisition demonstrates our commitment to build upon our relationship with Mercedes-Benz, and leaves us well placed to continue delivering on our UK growth strategy of representing between 5.0% to 10.0% of our chosen partners’ national sales volumes.
“Inchcape’s success in building scale contiguous territories should result in enhanced returns for our shareholders whilst, importantly, improving our service levels to our customers.”
