Vertu Motors (AIM:VTU) PLC has announced the acquisitions, worth an estimated £4.2mln, of two Yorkshire-based BMW Motorrad outlets.
Motorrad is BMW's motorcycle brand, which was the UK market leader in the ‘big bikes’ category in 2021.
Vertu Motors (AIM:VTU), the UK’s fourth largest automotive retailer, now operates three UK Motorrad outlets, making it the largest BMW motorcycle retailer in the UK.
In a statement, Robert Forrester, CEO of Vertu Motors, said: "Our business is performing strongly and the addition of two further BMW Motorrad outlets will be accretive both financially and strategically to the Group. Vertu becomes the largest partner in the UK for BMW Motorrad."
The business has been acquired from Saltaire Motor Company Limited, which trades as Allan Jefferies. Allan Jefferies has been trading as a family-run business, spanning four generations over 120 years, since 1901 and has represented the BMW brand since 1971. The outlets purchased are located in Shipley, near Bradford, and Rotherham. For the year ended 29 September 2021, the cusiness achieved revenue of £20.5mln and an operating profit of £463,000.
Paulo Alves, BMW Motorrad UK and Ireland boss, commented: "We are delighted to support the acquisition of the excellent Allan Jefferies business in Yorkshire by Vertu. The Jefferies family have built a fantastic operation and we are confident that the business will be in good hands. As a leading brand, our customers take priority and we share this philosophy with Vertu. We welcome them as our largest partner in the UK."
Vertu Motors has a network of 164 sales and aftersales outlets across the UK and a sector-leading online presence,