Vantage Motor Group has acquired the Toyota and Lexus businesses of Charles Clark Motors in Wolverhampton for an undisclosed sum.
Vantage, rated 59 in the Motor Trader Top 200 with annual revenues of £262m, already has Toyota centres close by in Tamworth, Solihull and Birmingham where it also has a Lexus dealership.
Vantage, which is headquartered in Harrogate, North Yorkshire already operates 12 Toyota and two Lexus dealerships.
Following a strategic review, Vantage recently disposed of its Hyundai operations in Stockport and Oldham.
Mark Robinson, managing director of Vantage Motor Group said: “This acquisition sits perfectly with the outcome of our recent strategy review and reinforces our Toyota and Lexus presence in the West Midlands.
“As a business we are committed to providing motorists with quality and value in their vehicle choice coupled with outstanding customer service.
The deal will see the 64 staff transfer from Charles Clark Motors to Vantage taking its workforce to almost 700 across 24 dealerships in Yorkshire, the Midlands and the North West.
Vantage was advised by Thomas Mieszkowski, Laura Cavell and Judith Pike of legal team Walker Morris LLP.
Charles Clark Motors were advised by UHY Hacker Young’s Head of Automotive, David Kendrick.
“With Vantage already operating the Toyota and Lexus brands in the surrounding territories it makes sense for them to acquire this business,” said Kendrick.