Sytner Group are happy to announce that we have now signed an agreement to acquire The Car People Limited – nearly doubling the size of our Used Vehicle Supermarket Division.
Retailing high-quality used cars, The Car People are one of the UK’s leading independent retailers of used vehicles. Operating from four large retail locations in Wakefield, Sheffield, Manchester and Warrington, they are known for their transparent, hassle-free, customer buying experience.
The Car People retail around 18,000 vehicles annually and generate a turnover of approximately £225 million a year. This acquisition reinforces the Sytner Group’s commitment to grow used car revenues and compliments our recent acquisition of Carshop; significantly expanding our Used Car Supermarket Division.
Talking of the acquisition Darren Edwards, Sytner Group CEO, commented:
"The acquisition of The Car People enables Sytner to accelerate the expansion of our Used Car Supermarket Division and to further diversify our business into this growing sector of the market. This acquisition reinforces our commitment to significantly grow used car revenues and compliments our successful recent acquisition of CarShop.”
The Used Car Supermarket Division is led by Jonathan Dunkley, CEO of CarShop who added:
“The Car People business sells approximately 18,000 vehicles per year and generates approximately £225 million in revenue on an annualized basis. This exciting and game changing acquisition will almost double the size of the Sytner Used Car Supermarket Division.”
Dunkley continued, “The CarShop team and I are excited to be joining forces with The Car People who are a fantastic team with a great business that operates under a similar model to our own. There will no doubt be many opportunities to share best practice between both organisations over time.”
The Sytner Group are excited to be welcoming The Car People to the Group and expect the acquisition to close in quarter one of 2018. If you would like to learn more about The Car People