VT Holdings, a Japanese car retail and aftersales business, has bought Colt Car Retail Group (CCR) from UK Mitsubishi importer and distributor Colt Car Company.

CCR has 11 dealerships stretching from the west of England to London, mostly along the M4 motorway corridor.

“VT Holdings approached us last summer, explaining that they were looking to establish themselves in the UK and that they would be interested in buying CCR,” said Colt Car Company managing director Lance Bradley.

“At the time we were not actively seeking to sell CCR.  When we did our research, however, we became aware of the very good reputation VT Holdings have in other parts of the world and recognised the benefits they could bring us.”

VT Holdings has 125 dealerships in Japan representing brands including Honda, Nissan, Ford and Jaguar. It also has Suzuki, Fiat, Alfa Romeo and Peugeot dealerships in South Africa. The purchase of CCR is its first in Europe.