Vertu Motors PLC Stellantis franchise agreements (1802Z)
19 Maggio 2021 - 3:19PM
UK Regulatory
TIDMVTU
RNS Number : 1802Z
Vertu Motors PLC
19 May 2021
19 May 2021
Vertu Motors plc ("Vertu Motors" or "Company")
Stellantis franchise agreements
The Group operates 27 sales and aftersales outlets with
Stellantis franchises which include Peugeot, Vauxhall, Citroen, DS
Automobiles and Jeep.
The Board notes the recent announcement by Stellantis regarding
its intention to issue 2 years' notice of termination of their
current franchise dealer agreements on 31 May 2021. The Group has a
strong relationship with Stellantis and performs operationally at a
high level for its brands.
In coordination with Stellantis, the Group is currently
undertaking expansion of the number of outlets operated and the
Board is confident that the reorganisation of the Stellantis dealer
network announced will have a positive impact on the Group's
operations and the scale of its activities.
- Ends -
For further information please contact:
Vertu Motors plc
Robert Forrester, CEO Tel: 0191 491 2121
Karen Anderson, CFO Tel: 0191 491 2121
Zeus Capital Limited
Jamie Peel Tel: 020 3829 5000
Andrew Jones
Dominic King
Camarco
Billy Clegg Tel: 020 3757 4983
Tom Huddart
Notes to Editors
Vertu Motors is the fifth largest automotive retailer in the UK
with a network of 149 sales outlets across the UK. Its dealerships
operate predominantly under the Bristol Street Motors, Vertu,
Farnell and Macklin Motors brand names.
Vertu Motors was established in November 2006 with the strategy
to consolidate the UK motor retail sector. It is intended that the
Group will continue to acquire motor retail operations to grow a
scaled dealership group. The Group's acquisition strategy is
supplemented by a focused organic growth strategy to drive
operational efficiencies through its national dealership network.
The Group currently operates 145 franchised sales outlets and 4
non-franchised sales operations from 115 locations across the
UK.
Vertu's Mission Statement is to "deliver an outstanding customer
motoring experience through honesty and trust".
Vertu Motors Group websites - www.investors.vertumotors.com /
www.vertucareers.com
Vertu brand websites - www.vertumotors.com /
www.bristolstreet.co.uk / www.vertuhonda.com / www.vertutoyota.com
/ www.macklinmotors.co.uk / www.farnelllandrover.com /
www.farnelljaguar.com / www.vertuvolkswagen.com /
www.vertumercedes-benz.com
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END
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May 19, 2021 09:19 ET (13:19 GMT)
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