Vertu completes Macklin Motors addition 01 | 07 | 2010
GATESHEAD-BASED multi-franchise group Vertu Motors has confirmed its acquisition of two Ford and Mazda dealerships in Glasgow and Hamilton previously owned by Shields.
In a statement, Vertu stated: "The consideration payable for these dealerships is £1.8m which will be settled in cash from existing resources. This is below the maximum consideration payable of £2.5m previously announced on 9 June, 2010, due to lower than anticipated working capital growth during June."
Both businesses are now being rebranded Macklin Motors, which is the group’s brand established this year for current and future dealership acquisitions in Scotland.