Automotive Holdings Group (AHG) has finalised the acquisition of the Bradstreet Group in the Newcastle region of NSW by adding 13 franchises and seven dealership locations.
The Bradstreet acquisition in particular complements AHG’s Newcastle truck hub, giving AHG a stronger presence in the Newcastle region.
The dealerships are all located in and around Newcastle, New South Wales and represents seven manufacturers – Toyota, Mazda, Holden, Nissan, Kia, Subaru and Great Wall. In FY13, Bradstreet Motor Group generated revenue of $449 million and net profit before tax of $14 million.
AHG managing director Bronte Howson describes the acquisition as significant. The latest combined acquisitions of Scott’s, JAT and Bradstreet would add approximately $600 million to group revenues in the financial year 2015.
“This is a strategic addition to our NSW dealership network. The dealerships operate from well‐ maintained properties on long‐term leases under an experienced management team led by Paul Tomlin (Group General Manager) and Anthony Hardy (CFO/Company Secretary),” says Howson.
“The automotive industry remains relatively strong. Even with the slight weakening in new vehicle sales, the FCAI’s national VFACTS forecast for CY2014 would still represent the second highest annual total of new vehicle registrations,” Howson adds.
The addition of the Bradstreet Group dealerships will take AHG’s network to 169 franchises at 95 dealership locations in Australia and New Zealand.
Join the conversation