Vertu Motors buys 4 VW passenger car dealerships in West Yorkshire

Automotive retailer Vertu Motors has bought four Volkswagen passenger car dealerships in West Yorkshire from Goodman Retail, a trading subsidiary of Sytner Group, for around £8.8m.

Vertu said the acquisition is expected to be earnings-enhancing in the first full year of ownership. For the year ended 31 December 2018, the combined management accounts of the dealerships bought showed revenues of £112m and a pre-tax profit of £0.6m.

Vertu said the purchase of four "substantial" VW leasehold dealerships in Leeds, Huddersfield, Harrogate and Skipton represents further expansion of the group's Vertu Volkswagen brand and complements its existing 13 outlets in Yorkshire.

Following the acquisition, the company will operate a total of nine Volkswagen passenger car dealerships.

At 1300 GMT, Vertu shares were up 2.8% at 37.10p.