Sintons complete Jennings acquisition
Jennings Motor Group has become the latest acquisition for Lookers in the North East, three years after its purchase of Newcastle-based Benfield Motors.
The sale of Washington-based Jennings, which has traded in the North East for over 100 years, has been hailed as paving the way for the next phase of its development.
The deal, which was for an undisclosed sum, was completed by Newcastle law firm Sintons, the long-standing advisor to Jennings Motor Group.
Jennings has dealerships throughout the region, and sells vehicles from manufacturers including Ford, Kia, Seat and Mazda.
Dr Nas Khan OBE, chairman of Jennings, said: “The sale to Lookers represents the next stage in the evolution of a company which, just over 100 years ago, was one of the first companies in the country appointed by Ford to sell its cars.
“It is all our employees, past and present, and our customers who have made the business what it is, as well as our excellent relationship with our manufacturers.
“I am proud to hand over the business in such good shape to Lookers, for them to continue with the standards of customer service and care which typifies the Jennings brand.”
Lookers chief executive Andy Bruce said: “The acquisition of Jennings is a perfect fit for Lookers and is aligned to our business model of operating the right brands in the right locations.
“We are delighted to expand our key partnership with Ford of Britain, the market leading brand in the UK. Geographically the Jennings acquisition joins together our existing Ford market areas in Sunderland and Yorkshire.
“There is a strong cultural alignment between the two companies. Both place the customer at the heart of the business, offer excellence in customer service and attract and retain the best people in the industry.
“I would like to welcome all of the great people in Jennings into the Lookers group. We’re proud to have acquired this highly respected business and we aim to help it to accelerate its growth under our ownership.”
A specialist team at Sintons completed the deal on behalf of Jennings. The corporate aspects were led by partners Christopher Welch and Adrian Dye, supported by senior associate Emma Pern. Real estate partner Alok Loomba handled the commercial property work.
Christopher Welch said: “We are delighted to have been able to complete this for Nas and Jennings Motor Group, who we have worked with for many years and have supported their growth and development into one of the North East’s best-known and most well-respected companies. Their strong business outstanding reputation is testament to the hard work of Nas and his team, and we are confident that can only develop further as part of the Lookers group.”