17th Sep 2018 18:34
LONDON (Alliance News) - National motor retailer Lookers PLC on Monday confirmed the acquisition of the North East business Jennings Motor Group for an undisclosed sum, BDaily News reported on Monday.
According to the media report, Jennings Chairman Nas Khan believes that the deal would allow the firm to continue to grow. Jennings sells a range of vehicles from manufacturers such as Ford, Kia, Seat and Mazda.
This transaction will reinforce Looker's position in the North East, adding to its existing 14 branches in the region.
"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," said Lookers Chief Executive Andy Bruce.
Lookers shares closed up 0.2% on Monday at 110.80 pence each.
https://bdaily.co.uk/articles/2018/09/17/lookers-acquires-washingtons-jennings-motor-group-in-latest-expansion-deal
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