8:58 am, January 10, 2024
The American owner of Sytner Group has completed its deal to buy the Rybrook chain.
Penske Automotive Group now owns Rybrook’s 15 premium sites in the UK, comprising four BMW dealerships, four Mini outlets, four Volvo showrooms, two Land Rover locations and a Porsche business.
Three of the BMW showrooms also sell BMW Motorrad motorcycles, with all the dealerships set to bring in some $1bn (circa £795m) a year.
When the deal, for an unspecified sum, was announced last month, Sytner Group CEO Darren Edwards said it would see Rybrook become part of Sytner Group and wouldn’t be run separately.
Yesterday, he said: ‘We are pleased to expand our brand footprint and increase our scale.
‘The Rybrook dealerships represent exceptional brands with a strong commitment to providing outstanding customer service.
‘We look forward to continuing this legacy and welcome the Rybrook associates to our team.’
Sytner is currently ranked second in the latest Car Dealer Top 100 of the UK’s most profitable dealerships, with an Ebitda of £262.8m. However, it is top of the chart in terms of turnover at £6.8bn. Rybrook was in 24th position.
Pictured at top via Google Street View is Rybrook’s Mini showroom in Stratford-upon-Avon
