3:47 pm, March 13, 2023
Drive Motor Retail has bought Minstergate for an undisclosed sum, it was announced this afternoon.
Minstergate runs six showrooms in Yorkshire and the Humber, with sites in York, Hull and Scarborough.
The purchases adds Hyundai to the Car Dealer Top 1oo firm’s portfolio, with three showrooms offering the South Korean marque, while complementing the company’s three existing MG dealers in Bristol, Leicester and Darlington.
The addition of MG doubles Drive’s representation of the SAIC-owned British brand from three to six sites, making Drive one of the UK’s largest MG dealer groups now.
Rob Keenan, pictured right, who is joint MD of Drive Motor Retail, said: ‘We are thrilled that this acquisition has now been completed, enabling us to enter a new region of the UK that was not previously covered by a Drive dealership.
‘Minstergate has been a very successful business for many years and is well regarded by the franchises it represents and their customers.
‘We will continue to work with and support the existing teams, including giving them the benefit of our recently enhanced employee benefits scheme.
‘I would like to thank the team at Minstergate for their support during the acquisition process, which has been completed in a remarkably short time.’
Fellow joint Drive MD Stuart Harrison, pictured left, added: ‘We are delighted to complete the acquisition of Minstergate, enabling us to add the Hyundai franchise to our portfolio at a very exciting time for the brand.
‘We have built a successful partnership with MG over the past two years, so I am also pleased to expand our representation with MG at a time when the brand continues to deliver exceptional growth in the UK.
‘The addition of Hyundai and the expansion with MG complements our existing business portfolio, giving us a wider geographical footprint with exceptional brand partners who we are proud to represent.’
Drive also holds the franchises for Vauxhall and Citroen.
The Minstergate dealerships will continue under their current brand for the time being then transition to Drive later this year.
Mark Campey, Minstergate Holdings chairman and CEO, said: ‘Having owned the business for 18 years, selling to Drive made perfect sense.
‘They have a fantastic business model and I know the team here will be in great hands. To be passing the company over to Drive seemed the right thing to do for the staff and the directors.’
He added: ‘Although I wasn’t actively looking to sell the business, Drive approached me in December 2022 and a deal was agreed quickly. The whole process has been smooth and professional.
‘James Cuff, Minstergate’s managing director, will leave the company alongside myself and we both wish the team a successful future. It’s now time for me to step back and spend some quality time with my wife Helen and enjoy a simpler life!’
Drive Motor Retail is one of the UK’s largest privately owned automotive retail groups, boasting an annual turnover of some £400m, with more than employees at 22 dealerships nationwide.
