Fleet News

Reg Vardy sold

CAR retailer Reg Vardy is being sold to rival firm Pendragon for £450 million.

The deal equates to 800p per share and follows Pendragon’s acquisition of CD Bramall for £230 million in 2003. Reg Vardy has about 100 dealerships around the UK.

Pendragon chairman Sir Nigel Rudd said: ‘We believe the combination of the two companies will strengthen relationships with principal manufacturer partners, lead to improved returns for our shareholders and provide greater opportunities within the enlarged group for all team members.’

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