Cambria, the acquisitive Swindon-based franchised motor retailer, has stayed close to its home town for its latest deal – the £7.56m takeover of TH White’s Land Rover franchise in Royal Wootton Bassett.
Cambria said it will relocate the newly acquired Land Rover operation to a redeveloped site alongside its existing Jaguar dealership in Dorcan Way, Swindon, over the next two years. 
It is Cambria’s second Land Rover franchise and takes the group’s portfolio to 29 dealerships representing 46 franchises and 18 brands across the UK.
Cambria is paying £2.25m for the freehold property, £3m for goodwill and £700,000 for fixed assets, with the remaining £2.24m for used and demonstrator vehicles, parts stock and apportionments.
It will draw down a new term loan to pay for the freehold property, with the balance met from existing financing facilities.
The dealership had revenue of £32m last year and Cambria estimates it made pre-tax profit of £700,000. Cambria says the acquisition will be immediately earnings enhancing.
Cambria chief executive Mark Lavery said: “The acquisition of the Land Rover dealership aligns perfectly with our stated strategy to develop our portfolio of premium and high luxury franchises.
“The Swindon territory is well known to us with the Cambria Group established in the town following its first acquisition in 2006.
“The Land Rover franchise continues to perform well, and we are pleased to be able to develop our Jaguar Land Rover relationship further with this exciting acquisition. TH White Land Rover was a family business, and we are looking forward to the opportunity to further enhance its performance under Cambria ownership.”
