8:14 am, October 3, 2013
DEALER group, Lookers PLC, has announced the acquisition of the Hertfordshire-based Land Rover dealership, Chipperfield.
Lookers bought the dealership from vendors, Graham and Barbara Price, for £10.4m.
For the year ending April 30, Chipperfield reported pre-tax profit of £400,000 on revenues of £26.1m. It has gross assets of £5.6m and net assets worth £2.5m.
In a statement, Lookers chief executive, Peter Jones, said: ‘The acquisition is an important development in the group’s representation of the Land Rover brand in the South East and complements our existing Land Rover businesses in Battersea and West London.
‘Chipperfield is a business for which we have tremendous respect and we are looking forward to welcoming its great team of people to Lookers.’
