Acquisition Of Get Motoring UK Limited

RNS Number : 6140C

Lookers PLC

09 March 2011

 



9 March 2011

LOOKERS plc

ACQUISITION OF GET MOTORING UK LIMITED

Lookers plc ("Lookers"), a leading UK motor retail group, announces that the Company has today completed the acquisition of Get Motoring UK Limited ("Get Motoring"). Get Motoring trades as Vehicle Rental Services ("VRS") and supplies vehicles on short term leases to car rental operators in the UK.

VRS complements Lookers existing vehicle leasing businesses and with anticipated annual EBITDA of approximately £3 million, will help to broaden the range of sources of earnings in the Group.

Peter Jones, Chief Executive of Lookers, commented:

"We are delighted to have acquired Get Motoring UK / VRS, which provides Lookers with the opportunity to extend our vehicle leasing businesses. We remain in a position to pursue strategic growth opportunities as they arise."

-Ends-

Enquiries: Lookers	Telephone: [phone]
Peter Jones, Chief Executive
Robin Gregson, Finance Director
Hudson Sandler	Telephone: [phone]
Nick Lyon / Kate Hough

 

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