The acquisition, which was for an undisclosed sum, brings the total number of Motorline’s Hyundai dealerships to seven.
The Hyundai dealership at Hereford adjoins Motorline’s existing Toyota site on Ross Road, and will enable the Group to progress plans to redevelop the site and create two new facilities for both Toyota and Hyundai.
Commenting on the acquisition, Glen Obee, Chairman said: “We are delighted to have completed this deal and to have been able to add Hyundai Hereford to our growing relationship with Hyundai UK.”
The corporate team at Thomson Snell & Passmore, led by Joanne Gallagher, advised Motorline on the acquisition.
Joanne Gallagher said: “Thomson Snell & Passmore are pleased to have been able to assist Motorline in relation to this transaction. As a long-standing and valued client of the firm, we are delighted that the Motorline Group is developing with ever-increasing success, and we look forward to supporting it in connection with its redevelopment plans. The transaction highlights our expertise in the automotive sector, and is one of many acquisitions we have completed in this industry in recent years.”
The family-owned dealer group was founded in 1972, and represents 11 leading car manufacturers with dealerships across South East & South West of the UK. The group’s budgeted turnover for the most recent financial year was in excess of £600m, and it currently employs more than 1,300 staff.