News dalla rete ITA

16 Agosto 2017

Sud Africa

IMPERIAL BUYS OUT UK AUTOMOTIVE DEALER GROUP PENTAGON

Motus Corporation has acquired UK automotive dealer group Pentagon Motor Holdings for R493-million (€ 31,6 million). Motus is the vehicle division of Imperial Holdings, Johannesburg Stock Exchange-listed South African-based international group of companies operating in the logistics and vehicle sectors. “Imperial has strong global partnerships with leading vehicle manufacturers and we are delighted to expand our international retail footprint into the passenger and light commercial vehicle market in the UK through the acquisition of Pentagon by Motus,” commented Imperial CEO Mark Lamberti. The acquisition was consistent with the vehicle division’s strategy to use its vehicle retail expertise in pursuit of growth and returns beyond South Africa. Motus management has explained the reason for the deal saying that Pentagon was a well-respected and established vehicle dealership group with long-standing expertise and a strong national reputation in the passenger vehicle sector, adding that the buyout would complement Motus existing commercial vehicle business, which has produced commendable results since its acquisition in 2006. Pentagon was established in 1991 and has gone a long way from an initial Vauxhall franchise base, fast expanding into representation of various other vehicle manufacturers, including Peugeot, Seat, Mazda, Kia, Renault, Fiat, Alfa Romeo, Nissan, Mitsubishi and Jeep. The UK company operates 21 retail dealerships in Derbyshire, Nottinghamshire, Lincolnshire, Yorkshire and greater Manchester, employing as many as 1,262 people. (ICE JOHANNESBURG)