Wednesday, June 16, 2010
Stoneacre buys Richard Rhodes Peugeot
| Stoneacre Motor Group has bought Richard Rhodes Peugeot in Wigan for an undisclosed sum. The business, which has represented Peugeot in Wigan for a number of years, is Stoneacre's third Peugeot acquisition in three years. It takes Stoneacre's number of outlets to 25, representing 11 franchises. David Kendrick, transaction manager at ASE which was involved in the sale, said: "From recent activity it appears that a number of groups are back on the acquisition trial, with an increasing number of long established dealers like Richard Rhodes Peugeot looking to exit the sector. "I believe this will be one of many single site dealers being bought out by the larger groups as consolidation in the sector continues." Stoneacre is ranked number 52 in the Motor Trader Top 200 dealers with sales of £166.1m. DATED: 16.06.10 FEED: MT |
