StockMarketWire.com - Automotive retail group Marshall Motor said it had acquired Motorline for £64.5 million.

The group has also separately acquired a related freehold property for £2.9 million and has the option to acquire two additional strategic freehold properties for £24.9 million.

Motorline is a multi-franchise dealer group headquartered in Canterbury and operating across Kent, West Sussex, Surrey, Berkshire, Bristol, South Wales and the West Midlands.

It represents ten brands through 48 operating franchises including Toyota, Lexus, Hyundai, Volkswagen, Audi, SKODA, Nissan, Peugeot, and Maserati.

'The acquisition is in line with the group's strategy which includes growing scale with its chosen brand partners; annual revenues expected to exceed £3bn,' the company said.

'We are delighted to begin new and significant partnerships with Toyota/Lexus and Hyundai. These brands, with a combined market share in the UK of over 11%, have been a target for the Group for some time and the acquisition of Motorline provides immediate scale with each of them,' it added.








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