The deal, which was negotiated for an undisclosed fee, brings the number of Lloyd Land Rover dealerships to three. The family-owned Cumbrian-based group already operates Land Rover dealerships in Carlisle and Kelso, and owns a total of 19 prestige brand dealerships in northern England and southern Scotland.
Newcastle-based UNW advised Lloyd Motor Group on tax matters relating to the deal. Lawyer Baines Wilson of Carlisle handled the legal aspects of the acquisition.
UNW tax partner David Ward said: “Lloyds is an ambitious, modern motor dealer and we were delighted to work with the group to secure its first dealership in North Yorkshire.
“This is the second acquisition we have worked on for Lloyds, following last summer’s takeover of Bateman of Lindale, a BMW/MINI dealership in Cumbria. It’s fantastic to support a family-owned business as it develops its portfolio of dealerships.”
Lloyd, which this year marks its 40th anniversary in business, deals in a number of quality brands including Jaguar, Land Rover, BMW, MINI, Volvo, Honda, BMW Motorrad and Honda Bikes. The Ripon Land Rover business provides an excellent fit with other parts of the group.
Lloyd’s managing director, Bryan Lloyd, said: “As a family-owned and family-run business, our people are our most valuable asset in establishing a brand that our customers can trust.
“Ripon Land Rover is a great business and has a first-class team who share our passion for excellent customer service. We look forward to welcoming Ripon’s staff and customers to the Lloyd family.”
Lloyd and Ripon Land Rover are now working to ensure a smooth transfer of ownership. It’s business as usual at the dealership, with the needs of customers remaining the top priority during the transition period.
Ripon Land Rover managing director, Geoff Brown, said: “We are delighted that Lloyd Motors, along with our dedicated team, will continue to provide a great customer experience and service that we have been renowned for over the past 34 years.”
Lloyd Motor Group was founded in Cockermouth in Cumbria in 1976 and continues to be owned and managed by the Lloyd family. The dealership group and sister company Lloyd Ltd, which operates in the agricultural and industrial vehicle sector, employ more than 1,000 people.
For more information, please visit www.unw.co.uk.