Car firm looks north in deal

 
Kasmira Jefford
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BRITAIN’S fourth-largest car dealer Lookers has bought smaller rival Benfield Motor Group owner Addison Motors for £87.5m in cash.

Founded almost 60 years ago in Newcastle, Benfield now has 30 dealerships in the north of England and Scotland. The family-run firm had revenues of £699.7m last year and pre-tax profits of £7m.

Lookers chief executive, Andy Bruce, said the Benfield acquisition was a good “cultural fit” and would also help to expand Lookers’ presence in the north east.