Vertu Motors has acquired a former Reg Vardy site in Stockton for a new Bristol Street Motors MotorNation used car dealership.
Robert Forrester, CEO Vertu Motors, said via Twitter: “Today we completed the assignment on the old Reg Vardy Stockton Rover, which we will reopen as a Bristol Street Motors MotorNation. I have fond memories of Rob Keenan and Tia Saddique doing 200 used cars a month at the top of the Group. We will breathe life back into the site.”
Vertu also recently acquired Farmer & Carlisle Holdings and its two Toyota dealerships in Loughborough and Leicester for £9.2m.
The business includes two freehold dealership properties valued at £6m and goodwill of £2.35m.
Farmer & Carlisle delivered pre-tax profits of £600,000 on turnover of £29.2m in the year to December 31, 2020.