Terms agreed for acquisition of Northamptonshire dealership

shutterstock.com/Natee Meepian

The Barkby Group PLC, the consumer-focused hospitality group, has signed heads of terms for the acquisition of Northamptonshire’s Centurian Automotive Limited.

Centurian Automotive is an automotive dealership with a fast growing online digital presence. Centurian was recently chosen by Autotrader from 13,000 motor dealers in the UK to represent the benchmark for all dealership training, marketing and master classes.

Rupert Fraser, CEO of Barkby, commented: “Barkby is led by a highly experienced team with a successful track record of delivering value for shareholders.

“The Board believes that the acquisition of Centurian into our consumer-led hospitality portfolio will be highly complementary and accretive, and we look forward to completing the transaction.”

The proposed acquisition is subject to, inter alia, completion of due diligence and signing of a binding acquisition agreement and therefore, there is no guarantee as to the timing of the proposed acquisition or whether it will proceed at all. Further information will be provided in due course.