SYDNEY: Peter Warren Automotive Holdings announced the planned acquisition of a multi-franchised dealership group in Macarthur, New South Wales from entities associated with Mr Greg Oakman.
The businesses to be acquired are Macarthur Mazda, Macarthur MG, Macarthur Nissan and Macarthur LDV.
The acquisition consideration, which includes goodwill plus net assets at completion, will be funded by existing cash and debt.
The businesses generate turnover of $140 million, with approximately 80 employees.
The transaction is subject to OEM approvals and is expected to complete in the coming months.
Mark Weaver said: “This acquisition reflects a continuation of our disciplined consolidation strategy by adding four top 20 brands to our well-established footprint in Western Sydney, delivering strong geographical and operational benefits.”
“This is a high-quality operation with a team culture strongly aligned to ours. We are delighted to welcome the team to Peter Warren, providing continuity of service to customers and OEM partners.
We extend our thanks to Mr Greg Oakman and wish him well.”
“Looking to the future, these new brands build a platform for additional acquisitions and enable further diversification of our income across all segments of the automotive market.”