Swindon-based franchised motor retailer Cambria has accelerated its expansion by snapping up Jaguar and Land Rover dealerships in North London for £2.1m.
The deal takes Cambria’s network to 31 dealerships across the UK. The group, which last year bought TH White’s Royal Wootton Bassett Land Rover dealership for £7.56m, acquired the North London franchise from Pendragon Premier. 
The business has a sales facility in South Woodford and an aftersales facility in Hainault, Essex, operating from leasehold premises.
Cambria said there was “great potential” for Jaguar and Land Rover sales in the area. The group now operates five Jaguar and four Land Rover dealerships under its Grange trading name.
Cambria estimates the acquired business made adjusted pre-profits of £700,000 last year on revenues of £44.4m.
It expects the acquisition to be earnings neutral during the remainder of the financial year to August 31 and earnings enhancing in the financial year to August 31 next year.
Cambrian also said the strong trading performance it reported to March had continued to the end of June meaning it was “significantly ahead” of the previous year’s figures.
Cambria chief executive officer Mark Lavery said: “We are pleased to have acquired this Jaguar and Land Rover franchise in North London, which complements and enhances the group’s existing Jaguar Land Rover businesses.
“The acquisition represents continued delivery of the strategy to develop our portfolio of premium and high luxury franchises in strategic locations by acquiring businesses that are earnings enhancing.
“The board believes that the South Woodford territory provides significant potential and we are keen to maximise the opportunity as we build and relocate to a new dealership facility.”
Cambria also operates the Invicta and Motorpark brands – including Swindon Motor Park.
