19 September 2018
Our automotive team, led by David Kendrick, are delighted to have advised Dr Nas Khan OBE on the sale of Jennings Motor Group to Lookers plc, for an undisclosed sum.
Jennings, the Stockton based motor retail group, represents the Ford, Kia, Seat and Mazda brands and is well aligned to Lookers’ business model of operating the right brands in the right locations. Andy Bruce, Chief Executive of Lookers, explained that the acquisition strengthens Lookers’ Ford representation in the North East, with them now operating in Stockton, Sunderland and Yorkshire.
Jennings was one of the first companies to represent Ford in the UK more than 100 years ago, and last year reported a 3.6% rise in turnover to £216.6m, with a 9% increase in operating profit.
To find out more about this sale, download our Dealsflash here.
Should you have any questions about the deal or the services we offer to the automotive sector, please do not hesitate to contact David Kendrick or fill out our contact form here.
