A long-established North East motor dealer has made its second acquisition in recent years to continue its expansion.
Washington-based Sherwoods Motor Group bought Springfield Motor Group in 2019 and it has now taken over Sunderland’s Town Centre Automobiles in a deal that strengthens its relationship with Citroen and Peugeot owner Stellantis Group.
Town Centre Automobiles was founded in 1977 with the opening of a showroom in Villiers Street, in Sunderland city centre, under the name Town Centre Garage Ltd.
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It was founded by brothers Stephen and Philip Smith, and started out with just three employees. Since then, it has grown to employ 26 members of staff and its Town Centre brand will be retained with the business now called Sherwoods Town Centre.
Sherwoods managing director Simon MacConachie said: “Town Centre Automobiles is a fantastic family-owned business of great pedigree, so we are thrilled to be able to bring it into the Sherwoods fold.
“It’s a successful business that’s recognised as having been a high performer in the Citroen network throughout its history. The family business culture is a natural fit for Sherwoods because both companies pride themselves on being a great place to work and providing the highest levels of customer service.”
He added: “The opportunity to grow our partnership with Citroen 海角视频 was a no-brainer, and keeping the name was key for us because it is a hugely trusted local brand, built over more than four decades.”
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MacConachie paid tribute to founder and former owner Stephen Smith, describing him as a “stalwart of the brand for many years” and thanking him for his support throughout the acquisition process.
Mr Smith said: “Town Centre Automobiles has always adapted and evolved in order to grow and thrive through the challenges of the motor industry over its 45 years in Sunderland.
“The sale to Sherwoods Motor Group ensures that Town Centre can go on to face the coming challenges with agency models, electrification and suchlike, with confidence, as part of a regional group that has Stellantis brands at its core.
“Sherwoods were an ideal purchaser for me personally because of their family business culture, and their values being very much in line with our own.”
The deal takes Sherwoods’ headcount to 161 people, with dealerships in Durham, Gateshead, Washington and Sunderland. The company, which dates back to the 1920s, reported revenues of £66.3m and an operating profit of £716,300 in its most recent accounts, which covered trading in 2020.
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