11:52 am, January 4, 2016
VANTAGE, the fast-growing motor retailer, has expanded its portfolio of dealerships to 25 across the north and midlands with the acquisition of two more Toyota sites and a Lexus outlet in Yorkshire.
All the dealerships, Toyota and Lexus in Leeds and Toyota in Wakefield, were formerly operated by the Benfield Group which was recently acquired by Lookers plc. They take the total number of Vantage Toyota dealerships to 12, making it one of the largest Toyota groups in the UK.
The deal will also see group staff numbers rise from 500 to 600 and annual turnover pass the £200 million mark.
Vantage paid £12.68 million for the three dealerships and will invest a further £1 million in upgrading the sites.
Mark Robinson, pictured, the founder and managing director of Vantage Motor Group, which is headquartered in Harrogate, said: ‘This is not about doing deals for the sake of doing deals but because they are a perfect fit – strategically, geographically and culturally.
‘Vantage and Benfield share a philosophy of putting employees and customers at the very heart of the business and matching both with great products.’
Robinson, who is also chairman of the Toyota dealer council in the UK, added: ‘These latest acquisitions cement our relationship with Toyota and reinforce our ambition of being a regionally-based, national force in the industry.’
Vantage now represents eight manufacturers: Toyota, Lexus, Kia, Skoda, Citroen, Mazda, Honda and Hyundai. Vantage is the trading name of the Meridian Motor Group.
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