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April 8, 2005

UK: Inchcape boosts Mercedes and Smart outlets

Inchcape plc, the international automotive services group has acquired the Robert Smith Group and its subsidiaries, which consists of six Mercedes-Benz dealerships and one Smart shop.

Inchcape plc, the international automotive services group has acquired the Robert Smith Group and its subsidiaries, which consists of six Mercedes-Benz dealerships and one Smart shop.

Inchcape now has 14 Mercedes-Benz dealerships including the largest contiguous territory for the German prestige brand and Smart in the UK.

The acquisition adds Mercedes dealerships in Liverpool, Warrington, Chester, Southport, West Kirby and Llandudno while the new Smart dealership is in Liverpool. Together, these sites achieved new car sales of about 2,100 units and used car sales of around 1,100 units in 2004.

Cash paid for the business will total about £18.1 million, subject to finalisation of accounts, and the figure includes around £7.2 million of goodwill.

The new dealerships increase Inchcape’s market spread. The group created the largest single contiguous territory in the UK for Mercedes-Benz in 2004 when it bought dealerships in Nottingham, Leicester, Derby, Mansfield and Loughborough,  adding to its original areas of Coventry, Stratford-upon-Avon and Oxford.

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