Sytner acquires CarShop
The Sytner Group has acquired the CarShop supermarket chain for an undisclosed sum.
Established in 1999, CarShop is one of the UK’s largest independent dealers with sites in Cardiff, Doncaster, Northampton, Norwich and Swindon. It also operates a vehicle preparation centre in Leighton Buzzard which is capable of reconditioning 45,000 vehicles annually.
Sytner, owned by the US-based Penske Automotive Group, expects the acquisition to generate estimated annual revenue of approximately £275 million in 2017.
Sytner’s managing director, Darren Edwards said, ‘The acquisition of CarShop enables Sytner to expand and diversify our business into an exciting, growing sector of the market with a proven, highly successful operator. CarShop’s customer-focused and progressive approach fits well with our culture and we are looking forward to working with the CarShop team to grow the business over the coming years.’
Penske’s founder and chairman, Roger Penske said the acquisition was in line with its plans to grow in both the US and the UK.
CarShop’s management team will stay on as part of the acquisition.