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Sytner is about to broaden its portfolio of luxurious automotive dealerships with a takeover of the vast majority of AM100 supplier group Rybrook.
As soon as the multi million pound deal completes in January Sytner will acquire 15 websites delivering annual income nearing £800 million, making Sytner the primary supplier group ever within the UK to be on the way in which to £8 billion turnover.
Its additions will embrace 4 BMW and Mini dealerships (3 of which additionally promote BMW Motorrad bikes), 4 Volvo dealerships, two Land Rover dealerships and one Porsche dealership.
Rybrook was ranked 18 within the 2023 AM100 itemizing of the UK’s largest franchised supplier teams, with a complete of 31 franchised shops together with ultra-luxury manufacturers Bentley, Lamborghini, Lotus McLaren and Rolls-Royce . In 2022 Rybrook’s revenues totalled £935 million.
The deal ends Rybook’s 52-year partnership with BMW.
Darren Edwards, Sytner Group’s chief government, mentioned: “We’re delighted to announce this transaction. The Rybrook dealerships characterize distinctive manufacturers with a robust dedication to offering distinctive customer support.
“We stay up for persevering with this legacy and welcoming these franchises to our group.”
An announcement to the New York Inventory Trade by Sytner’s father or mother, Penske Automotive Group, mentioned it has acquired sure regulatory approvals, and the acquisition is anticipated to be funded utilizing the corporate’s current liquidity and is predicted to shut in January 2024, topic to customary circumstances.
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