Harrogate-headquartered Vantage Motor Group has expanded its portfolio of dealerships to 25 across the North and Midlands with the acquisition of two more Toyota and one Lexus site in Yorkshire.
All the dealerships, Toyota and Lexus in Leeds and Toyota in Wakefield, were formerly operated by the Benfield Group which was recently acquired by Lookers. They take the total number of Vantage Toyota dealerships to 12, making it one of the largest Toyota groups in the UK.
The deal will also see Group staff numbers rise from 500 to 600 and annual turnover pass the £200 million mark. Vantage paid £12.68 million for the three dealerships and will invest a further £1 million in up-grading the sites.
Mark Robinson, the founder and managing director of Vantage Motor Group, said: “This is not about doing deals for the sake of doing deals but because they make a perfect fit – strategically, geographically and culturally. Vantage and Benfield share a philosophy of putting employees and customers at the very heart of business and matching both with great products.
“These latest acquisitions cement our relationship with Toyota and reinforce our ambition of being a regionally based, national force in the industry, recognised not just for the excellent range of vehicles we sell but for the outstanding level of customer service we deliver and the career opportunities we provide for our staff.”