Vertu increases presence in Yorkshire with acquisition of Burrows Motor Company
Vehicle retailer Vertu Motors has announced that it has acquired dealership chain Burrows Motor Company Limited, significantly increasing its presence in Yorkshire and Nottinghamshire.
The purchase will add outlets in Barnsley, Doncaster, Rotherham, Sheffield, York and Worksop to the firm’s portfolio, including five Toyota dealerships.
Robert Forrester, CEO of Vertu Motors, commented: "We have long admired the Burrows business and are delighted to have completed this acquisition creating further scale for the Group with key Manufacturer Partners. The acquisition of Burrows gives us considerable scale in our partnership with Toyota and strengthens the Vertu brand in Yorkshire and Nottinghamshire.”
Vertu said it had faded the acquisition through existing cash and borrowing facilities with gearing remaining significantly below target level
For the year ended 31 December 2023, Burrows Motor Company Limited achieved revenue of £168.9m and an operating profit of £1.4m.