13th May 2011
Jardine Motors Group UK Limited today announces it has acquired 100% of the share capital of Wayside Group Limited for an undisclosed sum.
Jardine Motors is a top 10 UK retailer operating 55 predominantly premium and high luxury franchises from 41 sites in the UK, employing 2,000 staff and with a 2010 turnover of £931m. It operates under the Lancaster, Scotthall, Appleyard, Minories, Abridge and Cloverleaf brands.
Wayside is a top 30 UK retailer operating five Audi, six Volkswagen cars, two Volkswagen commercial, three Trade Parts operations, one BMW/MINI and two Toyota plus one Skoda and Seat centred around Milton Keynes, employing 900 staff and with a 2010 turnover of £305m.
According to Alun Jones, Jardine Motors’ Chief Executive, “the acquisition is a major step forward in delivering our strategic plan of growing the business in the UK and developing our relationships with existing franchise partners”.
“The acquisition of Wayside is a perfect fit for us both in terms of geography and also enhancing our existing representation with Audi and BMW/MINI and giving us more scale with Volkswagen, Volkswagen Commercial Vehicles and Toyota. We are also delighted to be forming new relationships with Skoda and Seat.
We believe we have a lot to offer Wayside and their staff in terms of investment and support infrastructure. Wayside is a very successful regional group with really great people and has a very strong track record of success. ”
Richard Forman, Chief Executive of Wayside added “Jardines are acquiring a great business, delivered by talented and dedicated people, which we believe will benefit from the significant resources that Jardines can offer as it continues to grow, providing enhanced opportunities in the future for its staff, franchise partners and other stakeholders ”.
