Car dealer Lookers snaps up rival
03 October 2007
- Dutton Forshaw sold for £60 million
- 11 dealerships change hands
- Car buyers unaffected
Car dealer Lookers has announced it is buying rival Dutton Forshaw from owners Lloyds TSB for £60 million.
The deal, which highlights the growing consolidation of the UK car sales market, is made up of £28 million cash and taking on £32 million of debt.
The sale gives Lookers ownership of Dutton Forshaw's 31 dealerships, taking its total to 142, and gives it a presence in the South East, North West and in South Wales.
Anyone who has bought a car from Dutton Forshaw will be unaffected by the deal.
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