The Stoneacre Group has followed up its takeover of Mill Garages’ Sunderland site by acquiring three further outlets in Harrogate, Newcastle and Stockton.
The deal sees Stoneacre adding to its portfolio of Volvo outlets. It now oversees 8 sites.
“Everyone at Mill Garages is delighted to have joined forces with the fantastic Stoneacre brand,” said Alan Rennison-Rae, General Manager at Mill Garages Sunderland.
Mill Garages has held the Volvo franchise since 1965. All its staff, operations director Jeff Tabb and founder Bill Ward will continue working from its existing branches.
During 2018 Stoneacre has been pursuing an active policy of expansion through acquisitions. In January it paid an undisclosed sum for the Nottingham based Chris Variava single site Suzuki, Mitsubishi, Alfa Romeo and Jeep outlet, following this up with a takeover of Hyundai and Fiat franchise Burrows, which is based in Sheffield. Platts, which sold Fiat, Renault and Dacia models in Stafford also fell under Stoneacre’s orbit in March this year.
“Stoneacre remains acquisitive and would discuss any franchise opportunity with either dealer groups, owner drivers, stakeholders or potential franchise partners,” it said in a statement earlier this year.
Stoneacre began trading in 1994 when it took over a bankrupt dealership in Scunthorpe. It now runs some 47 branches, with existing outlets for Volvo in Chesterfield, Grimsby, Lincoln and Sheffield. It now represents some 20 car franchises, sells Harley-Davidson and Triumph motorcycles and oversees a distribution centre in Doncaster and 11 accident repair operations.
Stoneacre is currently ahead of a projected 2020 revenue target of £1bn.