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Pure Triumph

Acquisition of County Motor Works 4 February 2013

We are pleased to announce the acquisition of County motor works.

Strengthening our links with Vauxhall with the purchase of Essex-based County Motor Works for £4.1m.

County Motor Works represents Vauxhall, Alfa Romeo and Chrysler-Jeep in Chelmsford.

The purchase, financed from the group's own resources, includes freehold assets worth £2.9m.

In December last year, announcing its results, Cambria said it had set aside £20m for acquisitions and would be actively looking to buy businesses in 2013.

The County Motor Works deal follows the acquisition of Doves Vauxhall Southampton, Cambria's first Vauxhall dealership, in 2012.

Cambria said County Motor Works has historically been loss making, however the acquisition is expected to breakeven at the group level in its first full year of trading.

Cambria Automobiles chief executive Mark Lavery said: "We are delighted to have acquired County Motor Works and continue to work alongside Vauxhall, Alfa Romeo and Chrysler-Jeep to identify opportunities to extend our partnership in line with our buy and build strategy.

"We have now completed nine acquisitions since we formed the group in 2006 and represent 16 brands across 42 franchised outlets representing a balanced portfolio with a strong mix of prestige and high luxury and volume businesses," he said.