Peter Warren Automotive has announced its acquisition of Wakeling Automotive, a large multi-franchise group operating 30 dealerships across the Macarthur, Wollongong, Shellharbour, and Moss Vale regions of New South Wales. Wakeling Automotive represents 16 brands, including major names such as Hyundai, Kia, Nissan, Honda, Volkswagen, and Mercedes-Benz. The acquisition will significantly bolster Peter Warren’s presence in the state. Peter Warren Automotive is one of Australia’s largest automotive dealership groups with a long history of operation. The company retails new and used vehicles as well as offering service and parts.
The purchase price is $28 million, which Peter Warren will fund from its existing debt facilities. This figure includes $21.7 million in goodwill and net assets upon completion of the deal. Wakeling Automotive generates approximately $500 million in annual turnover, making it a substantial addition to Peter Warren’s portfolio.
Importantly, all 370 of Wakeling’s staff and senior management will transition to Peter Warren, ensuring continuity and expertise within the acquired business. The acquisition is strategically aligned with Peter Warren’s growth objectives and will expand its market reach across key regions of New South Wales.
Peter Warren anticipates that the acquisition will be immediately accretive to its earnings per share (EPS) after accounting for funding costs. The company views the acquisition as a positive move that will improve its overall financial performance and market position in the competitive automotive retail sector.
