Crosshills family car dealership is praised after £1.1m buy-out deal (From Bradford Telegraph and Argus)
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Crosshills family car dealership is praised after £1.1m buy-out deal
The Brigg motor trade family has been complimented by the boss of an expanding automotive retailer which has acquired its long-established dealership near Keighley.
The former Walter C Brigg Vauxhall dealership at Crosshills started trading as Bristol Street Motors last weekend after being acquired in a £1.1 million deal by the North East-based Vertu Motors plc, which last year also took over two Bradford garages.
Robert Forrester, Vertu chief executive, said the Brigg family’s successful management of the dealership since the 1960s together with a strong reputation for after-sales service, was what attracted the Newcastle group’s interest.
He said: “In our search to expand further in the West Yorkshire area we were attracted to the Walter C Brigg business because it has been excellently managed by the Brigg family over many years and has an outstanding reputation for after-sales service.”
Vertu Motors now has a network of 93 sales and after sales outlets across the UK, and the former Brigg operation is its 14th Vauxhall dealership.
As part of the transaction Vertu has acquired a 15-year lease on the Keighley property. The cash acquisition totalled £1.1m including £100,000 of goodwill and will be from Vertu’s existing resources.
According to accounts, Walter C Brigg has a turnover of £8.2 million and an operating profit of £100,000 in the year to September 30, 2012.