Completion of Acquisition

RNS Number : 8108Z

Motorpoint Group plc

01 June 2016

 

1 June 2016

Motorpoint Group plc

("Motorpoint" or the "Group")

Completion of Acquisition

Motorpoint, the largest independent vehicle retailer in the UK, is pleased to announce that it has completed the acquisition of a car supermarket site at Oldbury near Birmingham for an undisclosed sum. The site is expected to be operational in July 2016.

The Oldbury site, which is approximately five acres and is located just off junction 2 of the M5, will stock 500 low mileage nearly new vehicles from 30 different manufacturers, and will have access to Motorpoint's further 5,500 car stock. This acquisition complements the Group's existing West Midlands site at Aston Cross and brings its total number of sites to 11.

Mark Carpenter, Chief Executive of Motorpoint, commented:

"We are delighted to have completed this acquisition as the Motorpoint brand has proved extremely popular across the West Midlands since we launched our Birmingham site three years ago. The new site will give even more people the opportunity to experience our compelling customer proposition, combining choice, value and service."

Enquiries:

Motorpoint Group plc Mark Carpenter, Chief Executive Officer James Gilmour, Chief Financial Officer	via FTI Consulting
Numis Alex Ham Luke Bordewich Stuart Skinner	020 7260 1000
FTI Consulting (Financial PR) Jonathon Brill Alex Beagley James Styles Fiona Walker	020 3727 1000

Notes to editors

Motorpoint is the largest independent vehicle retailer in the United Kingdom. The Group's principal business is the sale of nearly-new vehicles, the majority of which are up to two years old and which have covered less than 15,000 miles. Motorpoint sells vehicles from brands representing over 95 per cent. of new vehicle sales in the United Kingdom, with models from Ford, Vauxhall, Volkswagen, Nissan, Hyundai, Audi and BMW being amongst the top sellers. The Group operates from 10 retail sites across Great Britain; Derby, Burnley, Glasgow, Newport, Peterborough, Chingford, Birmingham, Widnes, Birtley and Castleford, of which five have opened in the last four years, together with a national call-centre dealing with online enquiries.

More information is available at www.motorpointplc.com and www.motorpoint.co.uk.

 

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