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Lookers, the UK’s fifth largest dealer group, has completed the multi-million pound acquisition of Dutton Forshaw.
The £53m deal will see 31 Dutton Forshaw and Dovercourt dealerships transfer to the Manchester-based group.
“We are delighted to welcome our new colleagues into the group and look forward to developing the operations as part of the enlarged Lookers business,” said Lookers chief executive Ken Surgenor.
Dutton Forshaw will increase Looker’s total number of Ford outlets from one to eight, Mercedes-Benz outlets from four to eight and VW outlets from five to nine.
The acquisition, from Lloyds TSB, also signals the end of the banking sector’s interest in the automotive industry – the Dutton Forshaw sale leaves no banking stake among the top 30 dealer groups.