6 March 2018
Our automotive team, led by David Kendrick, are delighted to have advised the shareholders of Toyota and Lexus businesses of Charles Clark Motors in Wolverhampton on their sale to Vantage Motor Group, for an undisclosed sum.
Vantage, which is headquartered in Knaresborough, Harrogate, North Yorkshire already operates 12 Toyota businesses, making it one of the largest Toyota groups in the country, as well as two Lexus dealerships.
Following a strategy review, when it decided to consolidate its non-Toyota operations and grow its core relationship with the marque, Vantage recently disposed of its Hyundai operations in Stockport and Oldham.
The group already has Toyota centres in Tamworth, Solihull and Birmingham where it also has a Lexus dealership. With the addition of 64 existing Charles Clark staff, Vantage will see their workforce grow to almost 700 across 24 dealerships in Yorkshire, the Midlands and the North West.
With Vantage already operating the Toyota and Lexus brands in the surrounding territories, it made strategic sense for them to acquire this business. This transaction is another example of consolidation in the sector and the business fits very well with the adjoining dealerships.
To find out more about this sale, download our Dealsflash here.