14 Jan 2016 11:27
14 January 2016
Cambria Automobiles plc
("Cambria" or the "Group")
AIM: CAMB
Completion of disposal
Cambria, the franchised motor retailer, announces that, further to its announcement on 11 January 2015, it has completed the disposal of its Jaguar franchise in Exeter to Helston Garages Limited. The consideration for the disposal is £1.3 million and includes £1.2 million for goodwill. As previously announced, the Group has closed its Aston Martin boutique which is located in the same premises, to facilitate the transaction.
Enquiries:
Cambria Automobiles Mark Lavery, Chief Executive James Mullins, Finance Director www.cambriaautomobilesplc.com
| Tel: 01707 280 851 |
N+1 Singer - NOMAD & Joint Broker Nic Hellyer / Alex Price / Jen Boorer
| Tel: 020 7496 3000 |
Zeus Capital - Joint Broker Adam Pollock
| Tel: 020 7533 7727 |
FTI Consulting Jonathon Brill / Alex Beagley / James Styles
| Tel: 020 3727 1000 |
About Cambria - www.cambriaautomobilesplc.com
Cambria Automobiles ("Cambria") was established in March 2006 with the aim of creating a balanced independent UK motor retail group through a self-funded "buy and build" strategy, focused on turnaround opportunities.
Working in close cooperation with its manufacturer partners, the Group has built a balanced portfolio of 29 luxury, premium and volume dealerships, representing 44 franchises and 17 brands, with geographical representation spanning from the North West to the South East in Kent and South West in Exeter. These businesses are autonomous and trade under local brand names, including Dees, Doves, Grange, Invicta, Motorparks and Pure Triumph.
Cambria's brand portfolio currently comprises Abarth, Alfa Romeo, Aston Martin, Dacia, Ford, Fiat, Honda, Jaguar, Jeep, Land Rover, Mazda, Nissan, Renault, Seat, Triumph, Vauxhall and Volvo.
The management's success in turning around under-performing dealerships has allowed Cambria to build a strong balance sheet. As a result, the Group is in a position to acquire valuable premium operations, like the recently acquired Land Rover dealership in Welwyn Garden City, Jaguar Land Rover business in Barnet and Land Rover business in Swindon, which are immediately earnings enhancing and directly in line with the Group's strategy to further enhance the brand portfolio.
The Group's medium term ambition is to create a £1 billion turnover business producing attractive returns on capital.
CAMB.L (CAMB)