Vantage acquires Toyota & Lexus in Wolverhampton
The group already owns Toyota centres in Tamworth, Solihull and Birmingham, where it also has a Lexus dealership.
Harrogate-headquartered Vantage operates 12 Toyota businesses in total, making it one of the largest Toyota groups in the country, as well as two Lexus dealerships.
Following a recent strategy review, Vantage decided to consolidate its non-Toyota operations and grow its relationship with the brand, disposing of its Hyundai operations in Stockport and Oldham.
Mark Robinson, managing director of Vantage Motor Group said: “This acquisition sits perfectly with the outcome of our recent strategy review and reinforces our Toyota and Lexus presence in the West Midlands.
“As a business, we are committed to providing motorists with quality and value in their vehicle choice coupled with outstanding customer service.
“There has been a lot negative comment about the impact of Brexit on the motor industry but this is a sign of our confidence in a future where there will undoubtedly be change, driven by technological advances and Government policy, but where Toyota is already leading the market in alternative fuel vehicles and new mobility choices.”
The deal will see the 64 staff transfer from Charles Clark Motors to Vantage taking its workforce to almost 700 across 24 dealerships in Yorkshire, the Midlands and the North West.
Vantage was advised by Thomas Mieszkowski, Laura Cavell and Judith Pike of lawyers Walker Morris LLP.
Charles Clark Motors was advised by Caroline Litchfield, partner and head of automotive at legal practice Brabners, and David Kendrick, UHY Hacker Young’s head of automotive.
David said: “With Vantage already operating the Toyota and Lexus brands in the surrounding territories it makes sense for them to acquire this business.”
Published: 02 March 2018