29th Oct 2007 07:01
Lookers PLC29 October 2007 29 October 2007 Lookers plc Completion of acquisition of Dutton Forshaw Group Limited Lookers plc ("Lookers"), one of the UK's leading motor retail groups, is pleasedto announce the completion of the acquisition of the entire issued share capitalof Dutton Forshaw Group Limited ("Dutton Forshaw"), the motor retail division ofLloyds TSB Asset Finance Division Limited for a total consideration ofapproximately £53million. Dutton Forshaw comprises 31 outlets operating under the Dutton Forshaw andDovercourt brands. The acquisition is in line with Lookers stated strategy toexpand the market areas in which it operates and partnerships with preferredmanufacturers. Dutton Forshaw will increase the Group's total number of Fordoutlets from one to eight, Mercedes-Benz outlets from four to eight and VWoutlets from five to nine. Other outlets acquired include Chevrolet, ChryslerJeep and Dodge, Citroen, Honda, Hyundai, Land Rover, Peugeot and Skoda. Commenting on the acquisition Ken Surgenor, Chief Executive, said: "We are delighted to welcome our new colleagues into the Group and look forwardto developing the operations as part of the enlarged Lookers business." For further information: Lookers plc Telephone: 0161 291 0043Ken Surgenor, Chief ExecutiveDavid Dyson, Finance Director Hudson Sandler Telephone: 020 7796 4133Andrew Hayes / Nick Lyon / Kate Hough This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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