Brayleys Cars investors Athenaeum International Holdings, has completed its acquisition of Johnsons Cars.
The move gives Brayleys 79 franchise sales points across the country, representing 21 carmakers and supported by a workforce of close to 2,000 colleagues.
The acquisition included Johnsons’ TPS Centres, Johnsons Fleet Services, and group support functions.
José Blanco, CEO of Brayleys, said: “This is an exciting new era for the company.
“Johnsons Cars is a highly regarded and well-run business that perfectly complements our existing brand portfolio and geographic footprint.
“The shared values between our teams and our combined strength in key manufacturer partnerships make this a natural fit for the next step in our growth trajectory.”
This acquisition brings together expertise across many brands including those from the Volkswagen Group portfolio, Nissan, Hyundai and further securing the business’ position as Honda’s largest European dealer group by volume.
Sam Rotherham, Cooper Parry corporate finance manager who worked on the deal said: “Johnsons sustained growth over the years makes them a very attractive business, and this move by Athenaeum really demonstrates their commitment to the UK auto sector.
“Johnsons expands the Athenaeum portfolio both operationally and geographically. Allowing the shareholders an elegant exit from the industry.
“We expect to see further group consolidation, as OEMs are pushing for reduced network partners and international.”