Drive Motor Retail takes over six automobile dealerships in Yorkshire

AM100 supplier group Drive Motor Retail has gained its first Hyundai dealerships in its newest acquisition and expanded its illustration of MG.

It has accomplished the takeover of Yorkshire-based Minstergate, which operated Hyundai and MG dealerships in York, Hull and Scarborough and which recorded a £54 million turnover in 2021 and delivered a 2% return on gross sales in keeping with information at Corporations Home.

Drive now has six MG dealerships – its current ones are in Bristol, Leicester and Darlington – having begun to multi-franchise in 2021 away from its dependance on Vauxhall, which it had represented completely for a number of many years.

Mark Campey, Minstergate Holdings chairman and chief government (pictured, beneath proper), stated: “Having owned the enterprise for 18 years, promoting to Drive made good sense. They’ve a unbelievable enterprise mannequin and I do know the staff right here shall be in nice fingers.”

To be passing the corporate over to Drive appeared the best factor to do for the workers and the administrators, he stated.

“Though I wasn’t actively seeking to promote the enterprise, Drive approached me in December 2022 and a deal was agreed shortly.”

Campey added that he and Minstergate’s managing director, James Cuff, will depart the enterprise and each want the staff a profitable future.

“It’s now time for me to step again and spend some high quality time with my spouse Helen and luxuriate in a less complicated life,” stated Campey, who turns 50 this autumn.

Drive Motor Retail's joint group managing directors Stuart Harrison and Rob KeenanRob Keenan, joint managing director at Drive Motor Retail (pictured, proper), stated: “We’re thrilled that this acquisition has now been accomplished, enabling us to enter a brand new area of the UK which was not beforehand lined by a Drive dealership.

“Minstergate has been a really profitable enterprise for a few years and is effectively regarded by the franchises it represents and their prospects.

“We’ll proceed to work with and assist the prevailing groups, together with giving them the advantage of our just lately enhanced worker advantages scheme.”

I wish to thank the staff at Minstergate for his or her assist in the course of the acquisition course of, which has been accomplished in a remarkably quick time.

Stuart Harrison, joint managing director (pictured, left) added: “We’re delighted to finish the acquisition of Minstergate, enabling us so as to add the Hyundai franchise to our portfolio at a really thrilling time for the model. Now we have constructed a profitable partnership with MG over the previous two years, so I’m additionally happy to broaden our illustration with MG at a time when the model continues to ship distinctive progress within the UK.

“The addition of Hyundai and the growth with MG enhances our current enterprise portfolio, giving us a wider geographical footprint with distinctive model companions who we’re proud to signify.”

Minstergate completely represented Hyundai till 2021 when it added three MG dealerships to the group.

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