The new owners are Toyota Tsusho Automobile London Holdings Ltd, which operates under the Jemca Car Group name, and they have purchased the dealerships from Octagon Motor Company.
The acquisition of the three centres, which was completed on July 30, boosts Jemca Car Group’s Toyota portfolio to seven, including two aftersales facilities, making it the UK’s largest Toyota group.
The addition of Lexus Reading increases the group’s representation for the luxury brand to four centres.
A total of 110 employees from across all three sites, which have a combined turnover in the region of £40m, have transferred with the centres where it continues to be business as usual.
Jemca Car Group’s vice-president and managing executive officer, David Collis, said: ‘It will be business as usual as far as our customers are concerned the familiar faces of the respective teams will remain.
‘We at Jemca Car Group are delighted to add such high calibre businesses to our portfolio and we are looking forward to welcoming customers to the businesses under our parentage.
‘For us, it marks yet another step in the development of our group which has also seen us recently open a brand new Toyota centre in Enfield. We are extremely proud that we are now the largest Toyota group in the UK which reflects our commitment and expertise to the brand as well as to its Lexus marque.
‘We are looking forward to both identifying best practice within these businesses as well as enabling our extensive experience to play a part in the development not only of the three businesses that have joined us but throughout the rest of our group.’