Vertu Motor (AIM:VTU) – acquires Audi dealership, bold or rash?
The AIM quoted motor retailer has announced the acquisition of its first Audi dealership – it could be good timing….or not!
The Group has acquired the entire share capital of SHG Holdings Limited which operates Audi, Volkswagen Passenger Cars and Volkswagen Commercials outlets in Hereford. All three businesses benefit from high customer service ratings and have strong aftersales businesses. It also includes two Volkswagen Group parts distribution operations in Gloucester and Hereford and a used car and aftersales facility in South Herefordshire. The acquisition introduces Audi to the Group as a new franchise, strengthening their strategic goal of growing the premium mix within the Group. Volkswagen Commercials is also introduced to the Group for the first time. Volkswagen Group accounts for…