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Jardine takes sites?

Time 9 years ago

DEALER group Lookers is in the process of selling three of its dealerships to Jardine Motors, Car Dealer has been told.

A source told Car Dealer three Lookers Toyota franchised dealerships in Romford, Rayleigh, and Chelmsford are expected to transfer to Jardine’s ownership by the end of the month.

A spokesperson from Jardine confirmed the news saying: ‘We have agreed in principle to take over the three dealerships currently being operated by Lookers, and negotiations are ongoing to finalise the deal.

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‘We are targeting the end of this month or early April for the deal to be finalised – it is unlikely to be agreed before then.’

If the deal takes place, the next steps for the three dealerships will be merely a ‘name-change’, with all the staff remaining.

Earlier this month Lookers published their financial results for 2011 that revealed the dealer group’s revenue had risen to £1.90bn, and their share of the UK new car retail market had increased to 4.1 per cent.

Lookers declined to comment when contacted by Car Dealer.

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James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer.

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