JCT600’s Gilder acquisition cleared by OFT

THE owner of JCT600 has welcomed the Office of Fair Trading’s decision to clear the Yorkshire car retailer’s acquisition of the Gilder Group, but warned that the delay to the deal will hit profits.
By The Newsroom
Published 17th Sep 2013, 01:01 BST
John TordoffJohn Tordoff
John Tordoff

John Tordoff said: “Although it was no surprise to us or our advisers, it’s nevertheless good news that the regulator has now agreed that the deal did not result in a decrease in competition within the car dealership markets.

“We were always confident of a positive outcome, although cooperating with the OFT process has hampered our planned integration of the two businesses.

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“This delay in bringing about operating efficiencies will inevitably hit the bottom line, but we’re glad to be able to put the matter behind us and look to the future.

“We are already actively integrating the former Gilder businesses, and we are now able to again focus on our strategy of seeking new acquisition opportunities to further strengthen the JCT600 group.”

Bradford-based JCT600 announced the acquisition of Sheffield-based Gilder Group from its outgoing chief executive Garry Scotting in March 2013 for an undisclosed eight-figure sum.

The deal included nine of Gilder Group’s car and commercial vehicle dealerships, two parts depots and a body shop, strengthening JCT600’s presence in South Yorkshire, Derbyshire and Nottinghamshire.

It takes JCT600 to a total of 47 dealerships and 1,800 staff.

Related topics:YorkshireSouth YorkshireDerbyshire