Thursday, September 09, 2010
Marshall buys Mercedes business from Pendragon
Marshall Motor Group has agreed to acquire the Mercedes-Benz North West Market Area (MA5), a five site business, from Pendragon for an undisclosed sum.
As part of the deal, all of the area's employees at these sites (around 170 in total) will transfer to Marshall and all of the staff at the five dealerships are currently being consulted.
The completion date is expected to be early in October 2010.
Within the area Marshall acquires the Mercedes Benz franchises in Blackburn, Blackpool, Bolton, Preston and South Lakes as well as taking on the smart franchises located in Blackpool and Bolton.
Trevor Finn, Pendragon chief executive, said the proceeds of this strategic disposal would be used to further reduce the company's borrowings.
The remaining Mercedes-Benz businesses will continue to form a key and integral part of the group, he insisted.
Daksh Gupta, Marshall chief executive, said: “This is an important strategic acquisition for Marshall and we are delighted to be partnering with Mercedes-Benz and Smart, with whom we look forward to building a strong and lasting relationship.
"We are also very much looking forward to welcoming and working with our new colleagues from MA5”.
DATED: 09.09.10
FEED: AM
