Car dealership Jacksons has been bought out by Dutch automotive group, Van Mossel – with the company confirming that there will be no redundancies as a result of the acquisition.
The transaction has been submitted to the Jersey Competition Regulatory Authority (JCRA) and is expected to be completed by the end of July.
Jacksons – which has six locations and 500 employees – has confirmed that "there will be no redundancies and all staff and management will be retained".
A spokesperson for the car dealership added: "The Van Mossel Automotive Group are a customer focussed operator of the highest standard, investing in the latest facilities, products and people and this deal represents an exciting opportunity for the Jacksons Group."
With the Jacksons acquisition, Van Mossel will gain locations in the Channel Islands, the Isle of Man and the Isle of Wight.
Eight of the nine brands sold by Jacksons are new to Van Mossel's current portfolio – namely Aston Martin, Bentley, BMW, BMW Motorrad, Honda Motorbikes, Lexus, MINI, Porsche, and Toyota.
Pictured: BMW is one of the new brands that Jacksons will bring to Van Mossel's portfolio.
With sales of €250 million, Jacksons is one of the largest dealer groups in the UK. Van Mossel group said that this acquisition is reaffirming its European ambitions.
Paul Collier, Chief Executive of Jacksons, said: "I'm delighted to announce the agreement with Van Mossel.
"We have been negotiating for a significant period of time and I'm confident that their investment and expertise will further enhance our performance and service offerings.
"Van Mossel is a leading automotive group in Europe and a significant reinforcement of our operations. I look forward to working with them to future-proof the business on the islands.
"All employees will be retained to facilitate the growth of this unique company.
"Moreover, the proven concept of Van Mossel allows us to offer our customers more services under one roof in the future. A win-win situation."
It follows Van Mossel's acquisition of European company, Benelux.
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