Your Source for Up-To-Date News and Research on the Collision Repair Industry
click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email
SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor
Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide
Management/
Technical Info
Market Watch Rates
INSIGHT Inside this month's issue...
Feedback
Letter to the Editor
Tuesday July 13
UnitedAuto Acquires Glenvarigill in Scotland
UnitedAuto Group, Inc. has acquired the specialist car business of Glenvarigill in Scotland. Terms of the transaction were not disclosed.The dealerships acquired were Bentley, Ferrari, Maserati and Porsche in Edinburgh, the capital city of Scotland. UAG also acquired a Porsche franchise in Glasgow, Scotland's largest city. These dealerships represent an expansion of the Company's United Kingdom-based Sytner business and will be managed by the Sytner team. The Glenvarigill dealerships are expected to generate annual revenue of approximately $60 million.
Commenting on the acquisition of Glenvarigill, UnitedAuto Chairman Roger Penske said, "We are particularly pleased to acquire these premium franchises in the Scotland market. These franchises allow us to expand our worldwide presence with four of the premier auto manufacturers in the world today, and further strengthen our pre-owned business with sales of previously owned vehicles expected to be on par with new vehicle unit sales."
UnitedAuto currently operates 139 franchises in the United States and 103 franchises internationally, primarily in the United Kingdom.
©2004 Collision Repair Industry INSIGHT
All Rights Reserved
FEATURED
LINKS:
INSIGHT Supports the NABC!
Do You?