Summit Auto, part of a multi-national group, has acquired three prime Delta dealerships in a multi-million rand buy-out.
Summit Auto, part of a multi-national group, has acquired three prime Delta dealerships in a multi-million rand buy-out.
Summit Auto recently secured Gauteng-based dealerships Sandton Delta, Delta in Rivonia and Hutton Delta from the Independent Motors Group.
Summit Auto, a subsidiary of the multi-national giant Sumitomo Corporation, has been in operation in South Africa for the past six years with interests in a number of diversified operations including motor and related activities. They plan to carry out an extensive upgrade to existing facilities.
Summit Auto General Manager Ken Cosgrove said the first immediate investment would involve the relocation of Hutton Delta from the current facility in Hyde Park, to a prime new location in Jan Smuts Avenue.
“The acquisition of these three operations presented an attractive opportunity for further investment. Not only did we want to balance our current portfolio, but also to expand with an exciting franchise which presents future growth opportunities,” states Cosgrove.
“The entire transaction was completed within the space of six weeks and expresses the group’s confidence in the South African automotive industry. While current conditions in the sector may be tough, Summit Auto holds high expectations of a good local automotive future,” said Cosgrove.
Commenting on the acquisition, Delta Motor Corporation Sales and Marketing Director Ian Nicholls said: “We look forward to working with the group as they become part of the Delta family and this is even more encouraging in view of their commitment to provide the very best in terms of levels of customer satisfaction and this investment is a strong sign of confidence in the Delta franchise.”
