Riverside Motor Group has change into Yorkshire’s largest Volvo Automotive UK franchisee with the acquisition of Marshall Motor Group’s dealership in Leeds.
The transfer sees the £190.8 million turnover AM100 car retail group add its fourth franchise with the Swedish premium automobile model along with its present areas in Doncaster, Hull and Wakefield.
It leaves Constellation Automotive-owned Marshall with eight Volvo websites.
All workers will probably be retained on the Riverside Volvo Leeds dealership on Sackville Strategy, Leeds, as a part of the acquisition, which was formally accomplished on December 16.
Riverside managing director Mark Denton stated: “We’re delighted to have acquired our fourth Volvo retailer and increase our footprint throughout Yorkshire.
“As a privately owned and run enterprise, we are going to proceed to work onerous to attain wonderful buyer and worker satisfaction. We look ahead to assembly prospects previous and new quickly and we are able to’t wait to share all the nice information with everybody.”
“Leeds is a thriving metropolis and we’re delighted to change into part of it. I’m positive there’s a large potential for Riverside and the Volvo model to showcase the excellent vary of Volvo fashions.”
Riverside’s Volvo Leeds acquisition comes 17 months after it added Harratts’ Honda dealership in Wakefield to its franchise portfolio.
That acquisition helped to grow the group’s turnover by 24%, from £153.5m to £190.8m through the interval ended December 31, 2021, as pre-tax earnings rose by 37.3% to £7m (2020: £5.1m).
In addition to document monetary outcomes, Riverside also celebrated 40 years in business earlier in 2022.
Marshall’s disposal of its Volvo Leeds enterprise comes simply over two months after latest Kia disposals completed its exit from the Korean car brand.
Donalds Group officially took over the operation of the Kia UK Ipswich dealership in October after Drayton Motors took on the previous Marshall’s Kia franchise in Scunthorpe.