Nissan Motor (GB) has sold its 13 West Way sites it owns to a handful of dealer groups.
The acquisitions will be completed by the end of August, with 450 West Way employees transferring. The latest results filed at Companies house saw Westway turning in £9.1m pre-tax loss in 2020 on turnover of £285.5m.
Yeomans will acquire sites in Aldershot and Basingstoke. Glyn Hopkin will take on the dealership in Mill Hill, and Hendy will acquire the Southampton business.
The remaining nine West Way sites in Birmingham, Wolverhampton, Rochdale, Stockport, Altrincham, Coventry, Stourbridge, Oldham and Manchester, including Head Office and group support functions, are being bought by an unnamed group.
Andrew Humberstone, managing director of Nissan Motor (GB), said: “We have conducted a strategic review of our business operations to focus on sustainable profitability for the future, aligned to our global Nissan NEXT transformation strategy.
“West Way is a high performing business that delivered record results in 2021 and provides excellent levels of customer service. This, combined with the launch of Nissan’s exciting and electrified new products, ensures it is a very attractive proposition for these investors.
“They are able to leverage the synergies of their existing business units and ensure these dealer sites can continue to grow and maintain the great experience our customers are accustomed to receiving.”
Nissan last week announced a restructuring of the UK dealer network.
Jon Roberts, current Managing Director of West Way, said: “I would like to personally thank our colleagues that are integrating into new businesses in the south for their dedication and contribution to the group over many years.
“This is a really exciting time for the remaining sites at West Way that are being acquired as a group which will allow them to build further on the tremendous success in more recent years, with 2021 being a record result. As part of this West Way will also see the required investment in the businesses to elevate them to the next level.”