Luxury car retail group Rybrook has completed the acquisition of Helston Garages’ Porsche car dealership in Exeter.

Completion of the deal follows Helston’s disposal of 11 Audi, Volkswagen, Volkswagen Commercial Vehicles and Skoda dealerships to Yeomans, which was reported by AM yesterday (November 30).

Vertu Motors had also recently revealed that it is in “advanced negotiations” over possible acquisitions from the £627m turnover AM100 car retail business.

Following recent disposals, Helston Garages still holds franchised car retail agreements with BMW/Mini, Ferrari, Jaguar Land Rover, Peugeot and Volvo.

UHY Hacker Young’s David Kendrick advised Helston Garages on the sale of its Porsche Centre on Matford Park Road, Marsh Barton, Exeter.

Kendrick, who also advised on Helston’s disposals to Yeomans, told AM: “We’re delighted to have got the second deal over the line, which sees Rybrook double its Porsche representation to two centres.

“These opportunities don’t regularly come around, so it’s a great addition for them.”

AM has approached Rybrook for a comment.

Helston Garages was founded in 1960 by Mr & Mrs Carr Snr and initially dealt in and serviced Austin, MG, and Morris cars.

After the business was acquired by the Carrs’ son and daughter-in-law in 1975 Helston expanded, initially adding a Renault dealership in Taunton.

Since then the business has swelled significantly.

Most recently run by managing director Andy Barrett, it ranked 28th in the 2022 AM100 rankings of the UK’s largest car retail group’s by turnover.

Source link