Vertu Motors has acquired Helston Garages Group in a deal worth £182 million, bolstering its ranks by 28 sites to 188 locations.
This “radically enhances” the dealer's group reach in south-west England, it said in a statement, taking it from four dealers in the region to 32.
The 28 additional showrooms generated some £17.9m in pre-tax profit in the 2021 calendar year. Consequently, Vertu’s earnings per share are expected to see a double-digit percentage increase in the 2023-24 financial year.
The acquisition adds dealerships from BMW, Jaguar, Land Rover, Mini, Peugeot, Ferrari and Volvo, with the latter two being new additions to the group.
