Wales’ largest privately-owned motor group has made a major acquisition.
South Wales motor retailer Sinclair Group has purchased Shukers - which recorded a turnover of £50.2m in 2021 - from the Rubery Owen Group.
The value of the acquisition was not disclosed.
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The deal sees the car retail group, based in Pencoed, expand its presence across the border and add two Land Rover dealerships and its first Hyundai franchise to its portfolio.
Sinclair will expand its Welsh territory to mid-Wales with the takeover of Shukers' Land Rover and Hyundai dealership in Aberystwyth.
It will also cross the border into England for the first time, with the ownership of the Land Rover franchise in Ludlow.
Shukers will transfer its 50 staff to the Sinclair Group taking its workforce to 900 employees representing 10 brands in 24 locations.
Commercial law firm Acuity Law advised on the deal.
Sinclair Group managing director Andy Sinclair said: "Like us, Shukers is a well-established, family business and we share a similar culture and the same core values, focus and passion for providing outstanding customer service so this is a great fit for us.
"The Jaguar Land Rover brand is extremely strong in the UK and is already an important part of our group. The addition of two very successful Land Rover sites will significantly increase our territory for the brand and will double the points of representation we have following our takeover of retailers in Swansea and Brecon since 2018."
He added: "The opportunity to represent Hyundai for the first time is equally exciting, especially with its reputation for being so progressive on the electric vehicle front. The Hyundai product line-up is expanding rapidly so it’s a brilliant time to be involved with the brand as it will enable us to offer something very different to our current portfolio and presents our customers with even more choice."
Richard Jenkins, chief executive at Rubery Owen Group, said: "The future of the UK motor retail environment will face a lot of change in the coming years with the move to electrification and the increasing importance of online sales.
"To take advantage of all the opportunities these changes present, we believe that Shukers will be better placed being part of a much bigger family company that is purely focused on the motor retail sector."
He added: "The board and shareholders agreed that a buyer would be found based on being the best ‘home’ for our team and our business and we believe that the Sinclair Group is most like Rubery Owen in style and values."
Joe Barney, head of business at Shukers, said: "We are delighted to be joining the Sinclair Group, both teams in Ludlow and Aberystwyth are looking forward to further developing and growing the businesses into the future. We are committed to delivering the same high levels of customer service through the same outstanding teams under our new name."
Beverley Jones, partner at Acuity Law, said: “We’re delighted to have supported Sinclair Group once again on this major acquisition which provides such an exciting opportunity for its future. We look forward to seeing these dealerships go from strength to strength under Sinclair Group’s ownership.”
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