dealership, is selling off parts of its company in an effort to
consolidate dealerships in South Yorkshire and Lincolnshire, and
its vehicle leasing business.
Lookers, the UK’s second-largest motor dealer group, is set to
acquire the entire share capital of Bramall & Jones VW Ltd for
£2m, while the Sytner Group has bought Bramall & Jones Derby,
which includes one Audi dealership, for an undisclosed seven-figure
fee.
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This leaves the Bramall & Jones Group with one remaining
business, Bramall & Jones Lincoln, which has three Audi
franchises.
Lookers will gain an extra two Volkswagen sites, bringing its
total number of VW outlets to 11, as well as entry into the
contract hire market with a fleet of 1,500 vehicles. The new
dealerships will operate as Lookers VW in Great Britain, and as
Charles Hurst in Northern Ireland.
Lookers’ acquisition of Bramall & Jones comes as no
surprise; the majority shareholder and founder of the company, Tony
Bramall, is also a non-executive director of Lookers, with a stake
of about 20 per cent. The two groups further consolidated their
relationship last week when Lookers appointed Peter Jones,
co-founder of Bramall & Jones, to the position of operations
director in its motor division. Completion of the sale is expected
for May 1.
Meanwhile the Derby Audi business will continue as normal and
retain its 75 staff. The only difference will be in public signage
identifying Derby Audi as part of the Sytner Group. Commenting on
the sale of its Audi dealership to Sytner Group, Bramall said: “The
disposal of the Derby dealership was purely for geographical
reasons.”
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By GlobalDataBramall, a veteran figure within the motor industry, started the
Bramall & Jones business in 2004, after selling his CD Bramall
chain to Pendragon for £230m. Prior to the sale, CD Bramall was the
UK’s fourth largest motor retailer with 110 dealerships and a
contract and leasing arm of 7,000 vehicles.
There is industry speculation that the sale of Bramall &
Jones is part of a strategy to wind down the business.
Motor Finance Issue: 42 – April 08
by Katherine Gregory ,
Published for the web: April 23 08 11:15
Last Updated: April 24 08 10:48
