• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Lookers buys Jennings as part of ongoing expansion

Car Dealer Magazine by Car Dealer Magazine
September 17, 2018
0
Home News

NATIONAL motor retailer Lookers has bought Jennings Motor Group, it was announced today.

Jennings, which is based in the north-east of England, has Ford as its key brand partner but also represents Kia, Seat and Mazda.

The acquisition, for an undisclosed sum, reinforces Lookers’ position as one of the largest motor retailers in the UK and strengthens its position in the region, following the purchase of Benfield with 30 locations almost three years ago. Lookers said it was another show of confidence by itself in the wider UK automotive market and the continued demand for both new and used vehicles.

In a statement issued today, chief executive Andy Bruce, pictured, said: ‘The acquisition of Jennings is a perfect fit for Lookers and is aligned to our business model of operating the right brands in the right locations. We are delighted to expand our key partnership with Ford of Britain, the market-leading brand in the UK. Geographically, the Jennings acquisition joins together our existing Ford market areas in Sunderland and Yorkshire.

‘There is a strong cultural alignment between the two companies. Both place the customer at the heart of the business, offer excellence in customer service and attract and retain the best people in the industry.

‘I would like to welcome all of the great people in Jennings into the Lookers group. We’re proud to have acquired this highly respected business and we aim to help it to accelerate its growth under our ownership.’

Nas Khan, chairman and proprietor of Jennings, said: ‘The sale to Lookers represents the next stage in the evolution of a company which, just over 100 years ago, was one of the first companies in the country appointed by Ford to sell its cars.

‘It is all our employees, past and present, and our customers who have made the business what it is, as well as our excellent relationship with our manufacturers. I am proud to hand over the business in such good shape to Lookers for them to continue with the standards of customer service and care which typifies the Jennings brand.’

David Kendrick, partner at UHY Hacker Young Manchester LLP, who advised Jennings, said: ‘Jennings has been a long-established and very successful group for many years now. The acquisition by Lookers makes complete sense and complements their strong north-east presence, also enhancing their Ford representation.’

Lookers’ group annual turnover in 2017 was £4.7bn, with an adjusted operating profit of £84.7m.

MORE: Lookers hits a peak in West Midlands leg of blinding fundraising challenge

MORE: Lookers is on track for a record year, says chief operating officer

MORE: Benfield – We’re in safe hands after Lookers takeover

Related Posts

Porsche Bournemouth street scene
News

Inchcape reveals look of Destination Porsche Centre Bournemouth as success of current showroom prompts move

March 5, 2021
Aylesbury Crown Court, Sep 2019, via PA
News

Rogue car dealer avoids jail after racking up nearly £190,000 in fraudulent sales

March 5, 2021
Vertu Motors boss Robert Forrester
News

Clever technology helped Vertu Motors sell 6,500 used cars in February despite dealership doors being shut

March 5, 2021
Do It 4 Ben – Breakout For Ben
News

Breakout for Ben virtual challenge raises £159,000 towards £1m funding gap

March 5, 2021
VW ID.3
News

There’s something in the air – Volkswagen’s electric ID cars to get updates online

March 5, 2021
Reading Crown Court, via PA, Nov 2020
News

Prestige dealership owner and wife must fork out nearly £60,000 for wrecking listed mansion

March 5, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards 2020
  • Used Car Awards 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server 2