Manchester may always be ‘home’ to Lookers, but the motor retailer is continuing to strengthen its brand representation across the nation.
The company, founded in the North-West 110 years ago, is now one of the biggest car dealerships in Britain and has just added North-East-based group, Jennings, to its repertoire. The acquisition reinforces Lookers’ position in the industry. It’s also another show of confidence by the company in the wider UK automotive market, and the continued demand for both new and used cars.
Lookers Chief Executive Andy Bruce, said: “The acquisition of Jennings is a perfect fit for Lookers and is aligned to our business model of operating the right brands in the right locations. We are delighted to expand our key partnership with Ford of Britain, the market-leading brand in the UK.”
Lookers aims to be a major consolidator in what remains to be a highly fragmented market, and the acquisition of Jennings Motor Group represents an important development for the business, while it continues to concentrate on operational excellence and consistent organic growth.
Dr Nas Khan OBE, Chairman and proprietor of Jennings, said: “The sale to Lookers represents the next stage in the evolution of a company which, just over 100 years ago, was one of the first companies in the country appointed by Ford to sell its cars. I am proud to hand over the business in such good shape to Lookers, for them to continue with the standards of customer service and care which typifies the Jennings brand.”
David Kendrick, Partner at UHY Hacker Young Manchester LLP, who advised Jennings, said: “Jennings has been a long-established and very successful group for many years now. The acquisition by Lookers makes complete sense and complements their strong North-East presence, also enhancing their Ford representation.”
