The group announced that it has acquired the entire issued share capital of Sigma Holdings Limited and its subsidiary Greenoaks (Maidenhead) Limited (together "Greenoaks"). This acquisition operates three well established Mercedes-Benz dealerships in Reading, Ascot and Slough, with the with the Reading and Ascot outlets also representing the Smart franchise and Ascot also being a Mercedes-AMG performance car centre.
The group announces that it has acquired the entire issued share capital of Gordon Lamb Group Limited and its subsidiaries, including Gordon Lamb Limited, (together "Gordon Lamb") for a total cash consideration of £18.7m which has been settled from the Group's existing cash resources. In addition to expanding the Group's representation of Land Rover, Nissan and Skoda, the acquisition brings Toyota to the Group, further progressing the Group's strategic goal of growing its range of franchises. The transaction includes goodwill of £8.3m and brings freehold properties valued at £7.5m into the Group. The acquisition is an important development for the Group and is in line with the strategy set out at the time of the capital raise in March 2016.
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