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Lookers completes sale and acquisition

07 November 2016 07:34

Lookers has completed the sale of its parts business to Alliance Automotive UK Ltd which was announced on 9 August on a debt free and cash free basis, for £120 million in cash.

And, as previously announced on 15 August, Lookers has completed the acquisition of Warwick Holdings Ltd, trading as Drayton Motor Group, for £55.4m in cash.

Neil Davis, who is the managing director of the parts division, has resigned from the company as he is joining Alliance Automotive Group where he will continue in his role as MD of FPS Distribution.

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