British automotive retail group Marshall Motor Holdings (MMH) has closed the acquisition of six Škoda franchised dealerships, in two separate deals, for a total consideration of £3.5m.
The two acquisitions include the business and assets of Leicester and Nottingham Škoda from Sandicliffe, and the business and assets of Bedford, Harlow, Letchworth and Northampton Škoda from Progress Bedford.
Both deals now expand the group’s reach to 11 locations in the UK, including Barnstaple, Bedford, Croydon, Harlow, Leicester, Letchworth, Newbury, Northampton, Nottingham, Oxford and Reading.
MMH CEO Daksh Gupta said: “These acquisitions are an exciting milestone for Marshall in which we become Škoda’s largest UK retailer by adding six further sites in excellent locations which are contiguous to our existing Škoda sites.
“The acquired businesses have good potential for growth and improvement in their operating performance as part of a scaled and focused division.
“We believe it is the right time to grow our portfolio with Škoda and these acquisitions demonstrate our commitment to our stated strategy to grow with existing brand partners in new geographic territories. I would like to welcome all colleagues of the acquired businesses to Marshall.”
MMH closed the first transaction on 31 January and the second transaction on 28 February this year. Škoda UK supported the group with both the acquisitions.
According to the group, each of the acquired businesses operates from leasehold properties.