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CAR dealer Brisbane Prestige Cars today acquired its competitor City Peugeot for an undisclosed sum.
The deal involves the relocation of vehicles, sales staff and service technicians from City Peugeot’s Fortitude Valley site to Brisbane Prestige Cars’ 1000sqm Bowen Hills showroom.
Brisbane Prestige Cars dealer principal Brad Emmerson says demand for affordable luxury brands was a factor in the acquisition.
“It made good business sense to add such a respected and dynamic brand as Peugeot to our suite of vehicles. We now feel we can well and truly own the tagline ‘Brisbane’s home of European style’,” says Emmerson.
“Being an owner-occupied, family business, I know Brisbane Prestige Cars can offer Peugeot customers the personal, hands-on service (they expect).”
McInnes Wilson Lawyers principal Christopher Davis handled legal aspects of the sale for Brisbane Prestige, while Herbert Geer partner Jayne Steele acted for City Peugeot.
The transaction will increase Brisbane Prestige Cars’ team of 38 staff by 15. There are also plans to hire a further six employees.
It follows Westside Brisbane BMW Group’s recent acquisition of Lamborghini Brisbane, which sees the target retain signage and its existing premises for at least 14 months before a decision is reached on whether to integrate under one master-planned arrangement.
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