Stoneacre Motor Group has acquired the RMB Motor Group for an undisclosed sum.
RMB represents Toyota and Lexus at Stockton on Tees; Toyota, Renault and Dacia at Northallerton; and Toyota, Renault and Dacia at Darlington.
It also has an Autoparc used car centre at Yarm together with a body repair centre.
RMB was created in 2003 by Robert and Morag Bennett, directors of the company.
It is rated 159 in the Motor Trader Top 200 with annual turnover of £60.8m and losses of -£285,000 in the year to December 2019., attributed to the development of and investment in Toyota and Renault dealerships.
Stoneacre has been public in its desire to acquire new dealerships as the UK looks set to move out of the pandemic.
It said last month that planned acquisitions would bring its turnover to £1.2bn by April next year.
The strategic acquisition increases Toyota representation to five, adding to existing sites in Newcastle Silverlink and Gateshead.
Lexus representation rises to two dealerships adding to the existing site in Newcastle Silverlink and Renault/Dacia representation to six adding to the existing sites at Chesterfield, Stafford, Rotherham and Blackburn.
Stoneacre now represents 29 franchises with 138 franchise locations at 62 branches. All staff transfer to Stoneacre except for the RMB directors and shareholders.
Stoneacre managing director Shaun Foweather (pictured) said: “The latest acquisition of RMB Motor Group demonstrates the close working relationship we have with our franchise partners and confirms commitment by Stoneacre to grow and scale representation in mutually agreeable locations.
“We have now met the new team and I would like to welcome them to the Stoneacre family, we have started training immediately and are planning for further investment into the business, infrastructure and the people to fully maximize the opportunity.”