CAMB.L Share News (CAMB)

UK motor dealer Cambria Automobiles said Friday it acquired the County Motor Works franchise for 4.1m pounds. The company said the transaction would strengthen its position in major auto brands served by the dealer including Vauxhall, Alfa Romeo and Chrysler Jeep.It follows the integration and refurbishment of Doves Vauxhall Southampton, Cambria's first Vauxhall site, purchased in 2012. County Motor Works has historically made losses. However, Cambia expects the acquisition to be earnings neutral at the group level in its first full year of trading."We are delighted to have acquired County Motor Works and continue to work alongside Vauxhall, Alfa Romeo and Chrysler-Jeep to identify opportunities to extend our partnership in line with our buy and build strategy," Chief Executive of Cambria, Mark Lavery, said."We have now completed nine acquisitions since we formed the group in 2006 and represent 16 brands across 42 franchised outlets representing a balanced portfolio with a strong mix of prestige / high luxury and volume businesses."Shares climbed 4.65% to 19.75p at 14:44 Friday. RD