Tuesday, January 17, 2012
Johnsons acquires Hyundai sites from administrators
Johnsons Cars has acquired two Hyundai dealerships in Coventry and Sutton Coldfield from the administrators of Concept Vehicles for an undisclosed sum.
Concept Vehicles appointed KPMG as administrators before Christmas. It also operated a Saab site in Cardiff which closed in December with the loss of 14 staff.
Worcestershire-based Johnsons, number 45 in the Motor Trader Top 200, operates 23 sites and represents Honda, Lexus, Mazda, Toyota, Volkswagen and Volvo. The acquisition marks the group’s debut with Hyundai and sees the transfer of 38 staff to Johnsons.
“We are pleased to have acquired these two Hyundai dealerships, which help to consolidate our position as a leading motor dealer group in the Midlands, while our new Coventry dealership sees us launch into the area for the first time,” said Mike Berwick, group operations director of Johnsons Cars.
“We are excited to add this dynamic brand to our existing portfolio, and we are looking forward to a long and successful relationship with Hyundai.”
Will Wright, joint administrator for KPMG, said Concept was hit by uncertainty over Saab prior to the carmaker’s collapse at the end of last year.
“Concept Vehicles was badly affected by Saab’s financial problems and despite taking steps to diversify its business into Hyundai vehicles, ongoing financial difficulties unfortunately led to the company having no alternative but to enter administration”.
“Following an accelerated marketing process prior to the appointment, we are pleased to have concluded the sale of the Coventry and Sutton Coldfield businesses to Johnsons Cars.”
DATED: 17.01.2012
FEED: MT
