Inchcape agrees £346m sale to US-based dealer group

Car dealer group Inchcape will sell its UK retail operations to US-based Group 1 Automotive in a deal worth £346 million. Inchcape, which operates over 120 dealerships in the UK, said the sale allows it to become more distribution focused. This will provide higher margins in the 40 countries in which it operates. According to Car Dealer Magazine, 99% of Inchcape’s global revenue and operating profits will come from its distribution activities.

"As we continue to deliver on our strategic ambition of becoming the leading global distribution partner to our OEM partners worldwide, this transaction represents a significant step along that journey,” said Tait, group chief executive of Inchcape, said. “Our UK Retail business is a high-quality business, with an experienced and high-performing management team, and has been an important part of the Group's growth.

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