Motor dealer Desira in takeover of M R King Peugeot and Suzuki in Lowestoft
- Credit: Archant
A motor group has expanded further into the Peugot and Suzuki markets after a takeover of an East Anglian dealership.
EDP/EADT Top 100 company Desira Group has announced the purchase of M R King and Sons' Lowestoft site.
The dealership at Horn Hill takes the total number of branches across Desira to nine and employees to 254.
The move builds on the franchises the group offers by adding its first Suzuki dealership and second Peugeot site.
Managing director Stuart Stone said: 'We at Desira Group are always looking to improve and grow within our marketplace. We felt M R King and Sons Peugeot and Suzuki was the perfect opportunity to further expand our group.'
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He added: 'We are due to celebrate our 45th anniversary this year so it seemed the perfect time to be expanding the business.'
As well as the new Lowestoft site, Desira is based in Norwich, Diss, Great Yarmouth and Bury St Edmunds. It also has a London site.
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On top of selling new and used cars, Desira is one of the leading Fiat and Alfa Romeo parts dealers in Europe.
In its most recent accounts filed at Companies House, the group had a turnover of £86m with pre-tax profits of £1.24m.