16 May 2013 Motor trader Lookers buys Glasgow Land Rover dealer
Shields Automotive's Land Rover dealership is based in the south of Glasgow Related Stories
New car sales up sharply in Scotland Car dealer drives profits forward Arnold Clark buys car dealership Manchester-based Lookers Motor Group has expanded further in Scotland by buying Land Rover dealer Shields Automotive for £8.75m in cash.
The move comes less than a year after Lookers acquired Lomond Audi which expanded its reach to four key locations across central Scotland.
Lookers already owns Scottish car dealer Taggarts, based in Motherwell and Glasgow, which it acquired in 2003.
The Shields Land Rover dealership is based in the south of Glasgow.
It includes a number of freehold properties which will be sold after completion of the transaction.
Shields reported revenue of £20.5m and profits of £350,000 for the year ended 30 June 2012.
Lookers chief operating officer Andy Bruce said: "We have long admired the Shields Land Rover business.
"Joe O'Donnell, the owner of Shields, wants to retire from the industry and he was keen that his business was sold to a new owner which would continue to invest in the future development of his staff, many of whom have been with him for many years."
He added: "Scotland is a very important market for Lookers and this investment will further strengthen our presence as we continue to grow our customer base on the back of sound, quality experience and a priority focus on customer satisfaction."
The Shields dealership will be rebranded in due course to "align" with Lookers' branding strategy. More on This Story Related Stories New car sales up sharply in Scotland 07 MAY 2013, SCOTLAND BUSINESS Car dealer drives profits forward 04 MARCH 2013, SCOTLAND BUSINESS Arnold Clark buys car dealership 02 SEPTEMBER 2012, SCOTLAND BUSINESS
