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JCT600 has acquired Sheffield’s Gilder Group, taking on nine dealerships, two parts depots and a body shop.
The move was announced today (Sunday) and sees the Bradford-based family company buy the £200m turnover business from outgoing CEO Garry Scotting for an undisclosed sum, thought to run to eight figures.
The newly acquired outlets will trade under the JCT600 banner immediately and the deal boosts JCT600’s annual takings to above £850m. This also sees the company become one of the 10 biggest retail groups by income – they ranked 13th in the 2012 AM100. Gilder Group, meanwhile, ranked 56th.
All staff at the Gilder outlets will be retained. JCT600 chief executive John Tordoff commented: ‘This acquisition is another leap forward for us as a group, strengthening our coverage geographically and adding some more strong dealerships to the group. We are growing our workforce by a third, adding over 30% to our revenues and making this the biggest deal JCT600 has ever done.’
Garry Scotting, Gilder’s CEO said: "The group will continue to have a presence in Sheffield as we retain our three Gilder Honda sites. And, though I am retiring from the business, I will retain shares in the group and support the Gilder Honda team to grow."
JCT600 acquired retailers York and Hull Audi from the Gilder group in 2009.
Auto Retail Agenda is your look at the coming week, sent on a Sunday night putting you one step ahead ready for Monday morning.
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