“Better fit than we ever expected” says Lookers MD after motor group acquisition

LISTED motor group Lookers plc acquired the £700m turnover Benfield Motors last month, and managing director Nigel McMinn has said that the firm is a “better fit than we ever expected.”

The acquisition was announced on September 2, and though Mr McMinn said “it’s a big shock for a private company to be sold, especially a family business.” However Mr McMinn is no stranger to Benfield, which has 12 dealerships in Yorkshire, having spent 7 years at Benfield before moving to Lookers two years ago. Before that he was at Rede

Benfield has been in Yorkshire for 20 years, and owns Ford, Audi, Skoda, VW, Lexus, Hyundai and Toyota car dealerships from Northallerton down to Sheffield.

It turns over £700m annually, employing more than 1,600 people and 30 dealership across Yorkshire, the North East of England, Cumbria and Scotland.

The Yorkshire connection doesn’t stop there, with half the board either Yorkshire born and bred or currently living in the region.

Lookers’ biggest shareholder Tony Bramall, Bill Holmes and chairman Phil Wright have Yorkshire roots, whilst Mr McMinn’s parent hail from Knaresborough and Otley.

Mr McMinn said: “We knew the fit would be good, I used to be at Benfield, it’s been even better than we’ve expected.

His history with the firm came in handy whilst integrating the companies. He said: “At Benfield, we put a lot of work into making sure staff having a voice, and that they have the tools they need to do their job better and serve the customer better.

“One of the biggest differences is that we have the freedom of a bigger company to do things bigger.

“It’s been an easy fit, they have the stability of knowing that there is no chance of us being taken over, and we employ the same decent, fair people as are at Benfield, and happy staff deliver a great customer service experience.”

The opportunities in the saturated car dealership market in Yorkshire are extensive, says Mr McMinn.

He said: “The reality is that people in counties like Yorkshire need cars to get around. It’s a big county, people have to commute to work by car unlike in London and the South East, where many people get the train.

“There isn’t that culture we all rely on our cars to do our jobs, but here people are passionate about cars and there’s a good strong culture and strong demand for cars.”

The success of one of their rivals in the region, JCT600, is testament to that, but it’s all friendly competition says Mr McMinn. “We all coexist really well,” he said.

Future plans for Benfield and the region include fully integrating the businesses, and rebranding Benfield at Christmas to become fully part of the Lookers business.

“As a national group, we have a lot of cars in stock, a lot of choice. Dealerships make decisions locally, to do what’s right for their business locally. We bought a good business, we want to keep it as a good business.

“We will be investing in branches, relocating some and expanding them.”