Tuesday, March 02, 2010
JCT600 acquires Bramall and Jones
The Bramall and Jones business, owned by industry stalwarts Tony Bramall and Peter Jones, who formed the business after selling CD Bramall to Pendragon in 2002, consisted of three Audi sites in Boston, Lincoln and Grimsby and employed 155 staff all of whom transfer to the new business. Bramall became chief executive of Lookers in October 2009 while Bramall is a non-executive director.
Expansion
The acquisition brings the family-owned JCT600 Group, number 13 in the Motor Trader Top 200, up to 47 dealerships throughout Yorkshire, Derbyshire, Lincolnshire and the North East and employs over 1,350 people across the region. It represents 20 brands including Aston Martin, Bentley, BMW, Ferrari, Maserati, Mercedes-Benz, Porsche and Volkswagen.
The acquisition of Bramall and Jones, number 100 in the Motor Trader Top 200, which includes the three freeholds, follows the purchase of Hull and York Audi last August which marked the car brand's debut with the group.
Opportunity
"This provides us with another fantastic opportunity with Audi, one of the world's leading car manufacturers," said JCT600 chief executive John Tordoff.
"From York in North Yorkshire, through to Hull and Grimsby on the East Coast and south through Lincoln to Boston we now have a huge geographical area to control. These areas are prosperous, and have proved extremely resilient in the present economic climate. The three new dealerships are all very successful and the teams in place have a wealth of experience and expertise."
Talking to Motor Trader Tordoff said the group had not been actively looking to acquire sites but saw it as an opportunity to boost its fledgling Audi business. He would not rule out further purchases.
Turnover
The deal was supported by Lloyds TSB Corporate Markets and is expected to see the three new additions contribute around £80m to the group's turnover that is expected to top £550m in 2010.
The JCT600 group has weathered the credit crunch by adapting its stock levels and investing in used car stock and online sales resources. The firm said it now sells around 40 per cent of its used cars online through its website and increased its used car sales by 20 per cent in 2009.
DATED: 02.03.10
FEED: MT
