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StockMarketWire.com
Lookers has acquired Knights North West Limited for £27.2m in cash.

The acquisition introduces BMW and MINI to the company's portfolio of prestige brands for the first time, and further expands its motor division in the West Midlands. The acquisition is being funded from the company's existing bank facilities.

Knights Group is an experienced retailer of BMW and MINI models across the West Midlands, with six dealerships in Stafford, Stoke-on-Trent and Crewe. With a particular focus on service and customer commitment, Knights Group complements Lookers' strategy of improving the motor retail environment. The acquisition brings the total number of Lookers dealerships to 166.