Vantage Motor Group has completed the acquisition of David Ian ŠKODA in Morecambe – its first ŠKODA dealership – boosting group turnover by £8m from £215 to £223m and increasing its network of sites to 21. The deal was brokered by members of our national automotive team in Manchester.
The move sees ŠKODA join Toyota, Kia, Citroen, Honda, Hyundai and Lexus in Vantage’s range and follows hot on the heels of the Group extending its Honda penetration last month with the acquisition of Honda Bradford.
The ŠKODA brand has undergone a major transformation in recent years to become a value premium marque. It has experienced five years of record growth, culminating in sales of 76,027 cars in the UK last year (some 10,000 more than in 2013), and over one million cars worldwide.
The dealership will be rebranded as Vantage ŠKODA later this year and will undergo significant redevelopment to reflect the manufacturer’s new corporate identity. All staff are being retained.
According to the latest UK Customer Satisfaction Index (UKCSI) released by the Institute of Customer Service, ŠKODA is the most satisfying car brand sold in Britain and was placed in the top 10 per cent of all firms retailing in Britain, alongside household names such as John Lewis and Amazon.
Mark Robinson, Managing Director of Vantage Motor Group, said: “We are delighted to acquire our first ŠKODA dealership. The ŠKODA brand has gone from strength to strength and its increasing appeal in the eyes of buyers complements the strong values and focus on customer service that are consistent with the Vantage name.”
The deal was brokered by our automotive experts in Manchester.
Paul Daly, Partner and automotive specialist from our Manchester office said: “The deal continues the growth of Vantage with their first acquisition of a VW Group brand. Based on other transactions we are working on at present it appears the sector consolidation will continue strongly through 2015.”
Over the past year Vantage Motor Group’s turnover has grown from £65m to more than £220m. The group employs 500 people and has increased its number of sites from seven in Yorkshire and Lancashire to 21 across the North of England and the West Midlands.