Thursday, March 26, 2009
Sytner buys all three Nick Whale dealerships
Sytner Group has acquired a Ferrari/Maserati dealership at Bromsgrove, near Birmingham, and Porsche centres at Solihull and Leicester for an undisclosed sum.
The outlets were run by the loss-making Nick Whale Holdngs. Whale could not be contacted by AM.
Mario Vignali, a Sytner franchise director, is now based at the Bromsgrove Ferrari/Maserati dealership trading as Graypaul Birmingham. The franchises will be moved early next year to a newly-built 30-car dealership at Solihull, near Birmingham.
Sytner’s Graypaul division also operates dealerships representing the two Fiat Group prestige brands at Nottingham, Edinburgh and Egham (Surrey).
A Ferrari North Europe spokesman said: “Nick Whale had plans for the franchises in the Birmingham area but Sytner offers stability, investment and a high level of customer service.”
A Porsche GB spokeswoman confirmed Sytner’s acquisition of the two Nick Whale centres.
Last April Nick Whale, chairman of his group, filed at Companies House a statement revealing a group operating profit of £695,000 in 2007 before initial losses on new operations. But there was a £782,000 loss after interest and tax.
The disposals appear to bring to an end Whale’s enterprise that began a decade ago when he left the Ryland Group whose chairman and chief executive was his elder brother Peter.
In the mid 1990s Peter Whale took over as boss from their late father who founded the company.
Nick Whale said after starting his own business: “I wanted to get out of plc land. And, besides, working with my brother was not easy.” He was ambitious and his group grew quickly, gaining Toyota, Lexus, Lotus and AC franchises over the years.
Last year Whale sold a BMW dealership in Warwick, and a Mini outlet in nearby Stratford-upon-Avon, to Rybrook Holdings, whose chairman is his brother Peter.
Rybrook, whose franchises include Bentley and Rolls-Royce, was formed from the remains of the larger Ryland Group after various disposals.
DATED: 26.03.09
FEED: AM
The outlets were run by the loss-making Nick Whale Holdngs. Whale could not be contacted by AM.
Mario Vignali, a Sytner franchise director, is now based at the Bromsgrove Ferrari/Maserati dealership trading as Graypaul Birmingham. The franchises will be moved early next year to a newly-built 30-car dealership at Solihull, near Birmingham.
Sytner’s Graypaul division also operates dealerships representing the two Fiat Group prestige brands at Nottingham, Edinburgh and Egham (Surrey).
A Ferrari North Europe spokesman said: “Nick Whale had plans for the franchises in the Birmingham area but Sytner offers stability, investment and a high level of customer service.”
A Porsche GB spokeswoman confirmed Sytner’s acquisition of the two Nick Whale centres.
Last April Nick Whale, chairman of his group, filed at Companies House a statement revealing a group operating profit of £695,000 in 2007 before initial losses on new operations. But there was a £782,000 loss after interest and tax.
The disposals appear to bring to an end Whale’s enterprise that began a decade ago when he left the Ryland Group whose chairman and chief executive was his elder brother Peter.
In the mid 1990s Peter Whale took over as boss from their late father who founded the company.
Nick Whale said after starting his own business: “I wanted to get out of plc land. And, besides, working with my brother was not easy.” He was ambitious and his group grew quickly, gaining Toyota, Lexus, Lotus and AC franchises over the years.
Last year Whale sold a BMW dealership in Warwick, and a Mini outlet in nearby Stratford-upon-Avon, to Rybrook Holdings, whose chairman is his brother Peter.
Rybrook, whose franchises include Bentley and Rolls-Royce, was formed from the remains of the larger Ryland Group after various disposals.
DATED: 26.03.09
FEED: AM
