Nidd Vale dealership bought by Vertu

VERTU Motors has acquired Nidd Vale’s Vauxhall dealership in Harrogate for £800,000 in a deal which saves 51 jobs.

Listed company Vertu has entered into a short-term lease at the Leeds Road, Harrogate premises which are occupied by Nidd Vale.

Nidd Vale was put into administration earlier this month by its bank, Santander.

Vertu is planning to move the Vauxhall business to a new dealership in Knaresborough. The group now has 12 Vauxhall dealerships.
 
According to Vertu, for the year ended June 30 the Nidd Vale Harrogate business, including non-Vauxhall income streams, turned over £24.2m and posted an operating loss of £700,000.
 
Robert Forrester, chief executive of Vertu Motors, said: “Following the acquisition of the Bradford Nissan and Renault dealerships in September, the group is keen to develop the scale of its operations in Yorkshire.

“Nidd Vale has in the past been a very strong Vauxhall dealer with a substantial customer base. This acquisition represents a great opportunity for the Group to develop its relationship with Vauxhall and to represent the Vauxhall brand in this area.”

Nidd Vale operates Mazda and Seat dealerships, which are not included in the Vertu deal.