Lookers buys Audi dealer Lomond Motors
New and used car dealer Lookers announced that it has bought Scottish based Lomond Motors for £15m.
New and used car dealer Lookers announced that it has bought Scottish based Lomond Motors for £15m.
"The acquisition strengthens the group's presence in Scotland, where it operates as Taggarts Motor Group in Glasgow and Motherwell and represents the Land Rover," Lookers said in a company statement.
Lomond operates four Audi Centre dealerships in Glasgow, Edinburgh, Stirling and Ayr, as well as the distribution of trade parts for the VW Group in Glasgow and Edinburgh.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Lookers bought the entire issued share capital of Lomond using the group's existing bank facilities.
The statutory accounts of Lomond for the year ending 31 December 2011 reported a pre-tax profit of £0.7m, with gross assets of £36.8m and net assets of £5.3m.
Lookers Chief Executive, Peter Jones, said: "The acquisition is an important development in the group's representation of the Audi brand and our relationship with the VW Group and we are very pleased to be representing the brands in such key locations."
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry