Published: 14:30, 05 July 2017 |
Updated: 14:30, 05 July 2017
One of Kent largest car dealership groups has changed hands for an undisclosed sum.
Beadles, which dates back to 1893, has been bought by US retail giant Group 1 Automotive.
Beadles operates Jaguar, Land Rover, Volkswagen, Skoda, Toyota, Vauxhall and Kia across 12 dealerships in Bromley, Coulsdon, Dartford, Maidstone, Medway, Sevenoaks, Sidcup and Southend.
Group 1, which is listed on the New York Stock Exchange, has been expanding rapidly in the UK and last autumn snapped up Ford franchises in Newbury and Basingstoke.
The acquisition increases its UK operations to 43 dealerships, which includes existing Audi, BMW/MINI, Ford, Jaguar, SEAT and Volkswagen Commercial Vehicles stores.
"The Beadles Group is a great fit for Group 1, as we further expand our footprint and brand portfolio in the UK," said the chief executive of Group 1 Earl J Hesterberg.
"Beadles was established in 1893 and incorporated in 1915 and has an outstanding reputation for customer service and satisfaction.
"This acquisition bolsters our scale, provides additional management resources, and introduces new brand partnerships in the UK. We are also pleased to grow our existing relationships with key brand partners."
The Kent dealerships will continue to operate under the Beadles name.
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