Pendragon Plc acquired Reg Vardy Plc. The acquisition became unconditional on February 14, 2006, significantly expanding Pendragon's dealership network across the UK.
The Acquisition Details
The transaction involved Pendragon Plc acquiring the entire share capital of Reg Vardy Plc through an offer. This strategic move solidified Pendragon's position in the automotive retail sector, making it one of the largest dealership groups in the United Kingdom.
- Acquirer: Pendragon Plc
- Acquired Entity: Reg Vardy Plc
- Transaction Type: Acquisition of share capital by way of offer
- Unconditional Date: February 14, 2006
Impact and Scale
As a direct result of this acquisition, Pendragon gained control of ninety-seven Reg Vardy dealerships spread throughout the UK. This substantial addition significantly boosted Pendragon's operational scale and market presence.
To put Reg Vardy's pre-acquisition scale into perspective, for the financial year ended April 30, 2005, Reg Vardy reported a considerable UK turnover of £1,717 million. This figure highlights the significant size and revenue generation capacity of the business that Pendragon integrated into its operations.
Key Metric | Detail |
---|---|
Acquirer | Pendragon Plc |
Acquired | Reg Vardy Plc (share capital) |
Deal Unconditional | February 14, 2006 |
Dealerships Gained | 97 Reg Vardy dealerships across the UK |
Reg Vardy UK Turnover (FY05) | £1,717 million |
This acquisition was a pivotal moment in the UK automotive retail industry, marking a major consolidation effort by Pendragon Plc. For further details on the completed acquisition, you can refer to the official report by the Office of Fair Trading: Completed acquisition by Pendragon Plc of Reg Vardy Plc.
[[Automotive Acquisitions]]