Business
Completion of Acquisition
Completion of Acquisition.
About this update from Motorpoint Group Plc
[{"type":"text","content":"\n \nRNS Number : 8108Z Motorpoint Group plc 01 June 2016 \n\n1 June 2016\n \nMotorpoint Group plc\n(\"Motorpoint\" or the \"Group\")\n \nCompletion of Acquisition \n \nMotorpoint, the largest independent vehicle retailer in the UK, is pleased to announce that it has completed the acquisition of a car supermarket site at Oldbury near Birmingham for an undisclosed sum. The site is expected to be operational in July 2016. \n \nThe Oldbury site, which is approximately five acres and is located just off junction 2 of the M5, will stock 500 low mileage nearly new vehicles from 30 different manufacturers, and will have access to Motorpoint's further 5,500 car stock. This acquisition complements the Group's existing West Midlands site at Aston Cross and brings its total number of sites to 11. \n \nMark Carpenter, Chief Executive of Motorpoint, commented:\n\"We are delighted to have completed this acquisition as the Motorpoint brand has proved extremely popular across the West Midlands since we launched our Birmingham site three years ago. The new site will give even more people the opportunity to experience our compelling customer proposition, combining choice, value and service.\"\n \nEnquiries:\n \n\n\n\n\nMotorpoint Group plc\nMark Carpenter, Chief Executive Officer\nJames Gilmour, Chief Financial Officer\n \n\n\nvia FTI Consulting\n\n\n\n\nNumis\nAlex Ham\nLuke Bordewich\nStuart Skinner\n \n\n\n020 7260 1000\n\n\n\n\nFTI Consulting (Financial PR)\nJonathon Brill\nAlex Beagley\nJames Styles\nFiona Walker\n\n\n020 3727 1000\n\n\n\n\n \nNotes to editors\n \nMotorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles. Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 10 retail sites across Great Britain; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley and Castleford, of which five have opened in the last four years, together with a national call-centre dealing with online en...