Cambria Automobiles buys County Motor Works

UK motor dealer Cambria Automobiles said Friday it acquired the County Motor Works franchise for 4.1m pounds.

UK motor dealer Cambria Automobiles said Friday it acquired the County Motor Works franchise for 4.1m pounds.

The company said the transaction would strengthen its position in major auto brands served by the dealer including Vauxhall, Alfa Romeo and Chrysler Jeep.

It follows the integration and refurbishment of Doves Vauxhall Southampton, Cambria's first Vauxhall site, purchased in 2012.

County Motor Works has historically made losses. However, Cambia expects the acquisition to be earnings neutral at the group level in its first full year of trading.

"We are delighted to have acquired County Motor Works and continue to work alongside Vauxhall, Alfa Romeo and Chrysler-Jeep to identify opportunities to extend our partnership in line with our buy and build strategy," Chief Executive of Cambria, Mark Lavery, said.

"We have now completed nine acquisitions since we formed the group in 2006 and represent 16 brands across 42 franchised outlets representing a balanced portfolio with a strong mix of prestige / high luxury and volume businesses."

Shares climbed 4.65% to 19.75p at 14:44 Friday.

RD

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021
House prices: from boom to even bigger boom
House prices

House prices: from boom to even bigger boom

UK house prices have risen to new to record highs, says Nicole Garcia Merida. Demand continues to outpace supply, but continued low interest rates, th…
9 Apr 2021
Nuclear power might never be popular – but now looks a good time to invest
Commodities

Nuclear power might never be popular – but now looks a good time to invest

Nuclear power gets a very bad press, but it is the ultimate renewable energy source. Interest in it is perking up again, says John Stepek. Which means…
9 Apr 2021