Last checked at 12 Jun 2013 09:53
12 June 2013
Vertu Motors plc (the "Company" or the "Group")
Completion of Acquisition of Albert Farnell Limited
Further to the announcement on 7 June 2013, the Company is pleased to announce that the acquisition of Albert Farnell Limited has completed today.
For further information please contact:
Vertu Motors plc | |
Robert Forrester, CEO | Tel: 0191 491 2111 |
Michael Sherwin, FD | Tel: 0191 491 2114 |
Panmure Gordon | |
Hugh Morgan | Tel: 020 7886 2500 |
Callum Stewart | |
Espirito Santo Investment Bank | |
Peter Tracey Jamie Richards | Tel: 020 7456 9191 |
FTI Consulting | |
Billy Clegg | Tel: 020 7831 3113 |
Notes to Editors
Vertu Motors is the sixth largest automotive retailer in the UK with a network of 95 sales and aftersales outlets across the UK. Its dealerships operate predominantly under the Bristol Street Motors, Vertu Honda, Farnell Land Rover and Macklin Motors brand names. Manufacturer partners are Alfa Romeo, Chrysler Jeep, Citroen, Fiat, Ford, Honda, Hyundai, Land Rover, Mazda, Nissan, Peugeot, Renault/Dacia, SEAT, Suzuki, Vauxhall and Volvo.
Vertu Motors was established in November 2006 and listed on AIM in December 2006, with the strategy to consolidate the UK motor retail sector. It is intended that the Group will continue to acquire motor retail operations to grow a scaled dealership group. The Group's acquisition strategy is supplemented by a focused organic growth strategy to drive operational efficiencies through its national dealership network. The Group currently operates 94 franchised sales outlets and 1 non-franchised sales operation from 77 locations across the UK.
Vertu Motors group websites - www.vertumotors.com / www.vertucareers.com
Vertu Motors brand websites - www.bristolstreet.co.uk / www.vertuhonda.com / www.macklinmotors.co.uk / www.farnelllandrover.com