CITY Motor Holdings, based in Basingstoke, has purchased a Peugeot dealership in Newbury as the company continues to go from strength to strength.
The car dealership group, which is headquartered at its six-acre Autoplaza, just off the Houndmills Roundabout, has acquired Marshall’s and rebranded it as City Peugeot. The business, pictured, sits alongside the group’s Gowrings Ford showroom, in Pinchington Lane.
This latest venture means the company now has 12 dealerships in its portfolio, and managing director Steve Hemlock said there are further expansion plans in the pipeline.
He added that the deal cements the plans to create three multi-franchise Autoplaza sites in Basingstoke, Newbury and Reading.
Mr Hemlock, who has been in the motor trade for 45 years, said: “We’ve got a lot of expansion on the cards, all planned for completion by the end of 2014. There will be some revamping of existing premises, and we’re also working on some new ones due to launch in 2015.
“We will expand with franchises we’re comfortable with in an area we like, and as a financially strong company, we’re always looking at other opportunities.”
In just 18 months, the company has moved into the AM Top 75 of Automotive Groups, following a management buy-out deal in December 2012, which was helped by investors RCapital.
Mr Hemlock said the company continues to go from strength to strength, increasing its workforce from 220 to 310.
City Peugeot is a Guild of Gold Lion Award dealer, an accolade awarded to just 25 Peugeot dealers in the UK offering outstanding customer service.
Mr Hemlock plans to hold an official opening ceremony. However, in the meantime, it is business as usual at the Newbury dealership where City Peugeot will be offering new and used cars and vans, as well as servicing and MOTs, plus selling parts and accessories.