Cooper Parry’s Manchester-based Corporate Finance team advised family-owned Soper of Lincoln BMW/MINI on its sale to Group 1.
US retailing giant Group 1 has operated in the UK since 2007 and now has 115 dealerships across the market. The acquisition of the Lincoln dealership is expected to generate around $125m in annual revenues. Group 1 have said it is now set to reach an estimated $3.9 billion of annual revenues acquired in 2024, following $1.1 billion of acquired revenues in 2023.
Daryl Kenningham, Group 1’s president and CEO, said:
“We want to welcome our new teammates from Soper of Lincoln to the Group 1 family and are delighted to expand our operations with these great brands.
Our strong relationship with the manufacturer and our experience in this market area make this a terrific addition to our UK operations.”
David Kendrick, automotive partner at Cooper Parry advised the shareholder of Soper on the sale. He said:
“Andrew has built a great business having bought it from Steve Soper many years ago. It makes absolute sense for Group 1 to take this on and it’s been another great deal.”
