Big Motoring World completes deal for used car supermarket sites from focused brand Carshop – Car Dealer Magazine

Big Motoring World has completed the acquisition of three sites from used car supermarket group Carshop.

Car Dealer reported last week that the Kent outfit was in discussions over several premises, according to Sytner killed the CarShop name as part of a major overhaul of its operations.

Now, less than a week later, the firm has confirmed bids to take over sites in Camberley, Norwich and Sheffield.

The Sheffield and Norwich sites will open from tomorrow (July 24), while the newly completed Camberley store will follow later in the year.

Commenting on the acquisitions, Laurence Vaughan, CEO of Big Motoring World, said: “The acquisition of CarShop will take the Group’s turnover to over £1 billion on an annual basis, approximately doubling from 2022, and is a huge step towards achieving the plans our medium term.

“We were able to grow Big substantially while delivering strong returns in a market that many competitors found extremely challenging.

“The Big Motoring World model is built on providing exceptional value to customers, backed by excellent customer service. I am confident that we can continue to develop our brand to be the standout business in our sector.

“I would like to welcome the more than 170 CarShop team members who have joined Big and assure them that we will invest in businesses that are already good to help them take them to the next level.

“I would also like to thank all my colleagues who have worked so hard on this transaction and delivering it to all stakeholders regardless of market conditions.”

Big Motoring World has also made no secret of its desire to grow following a turbulent period in the boardroom.

Earlier this year, founder Peter Waddell was ousted in a move that is currently subject to High Court action.

Waddell recently lost an attempt to get a temporary banwhich would have restored some of his rights to the company, with a judge labeling him “highly disruptive, hostile and offensive”.

The Carshop deal will no doubt be helped by the presence of Vaughan, himself a former Sytner boss.

He enjoyed a long period of success at Top 100 car dealers group and led the team that saw the business grow from a single BMW dealership in Nottingham to a luxury car group with annual revenues in excess of £5bn.

His tenure also included Sytner’s initial public offering on the London Stock Exchange in 1997, as well as its sale to US-based Penske Automotive Group in 2002.