1:30 pm, September 16, 2013
THE Yorkshire-based independent dealer group JCT600 has been cleared to complete its purchase of the Gilder Group.
The deal included nine of the group’s car and commercial vehicle dealerships, two parts depots and a body shop, and will strengthen JCT600’s presence in South Yorkshire, Derbyshire and Nottinghamshire.
The business now has a total of 47 dealerships and the workforce has increased from 1,350 to over 1,800 employees.
Chief executive of JCT600, John Tordoff, said: ‘Although it was no surprise to us or our advisers, it’s nevertheless good news that the regulator [the Office of Fair Trading] has now agreed that the deal did not result in a decrease in competition within the car dealership markets.
‘We were always confident of a positive outcome, although cooperating with the OFT process has hampered our planned integration of the two businesses.
He added: ‘This delay in bringing about operating efficiencies will inevitably hit the bottom line, but we’re glad to be able to put the matter behind us and look to the future.
‘We are already actively integrating the former Gilder businesses, and we are now able to again focus on our strategy of seeking new acquisition opportunities to further strengthen the JCT600 group.’
