Pendragon PLC (LSE: PDG) is a multi national operator of franchised motor dealers in the United Kingdom, with international outlets in the United States. The company is based at Annesley, Nottingham. It is listed on the London Stock Exchange.
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History
Pendragon became a public limited company, when the vehicle division of Williams Holdings which operated nineteen car dealerships, was demerged in 1989. From its establishment in 1989 until April 2010, the company was chaired by Sir Nigel Rudd.
In 1990, the company's portfolio to incorporate volume car franchises, such as Ford and Vauxhall. Following this, Pendragon began a series of high-profile acquisitions. The Stratstone brand was acquired in 1992, establishing a relationship for Pendragon with Jaguar and Land Rover.
In 1997, an acquisition of Lex Service PLC and their seventeen volume car dealerships took place.
In August 1998, Pinewood computers was acquired by Pendragon, expanding the company's portfolio into the specialist areas of dealer management systems, telecommunications and remote security monitoring systems for the retail motor industry. Pendragon went on to acquire the whole shared capital of Evans Halshaw in February 1999. After this, a further thirty two franchised dealerships were bought from Lex Service PLC in March 2000.
In July 2000, Pendragon expanded into America, with their acquisition of Bauer Jaguar, the third largest Jaguar dealership in America. Throughout the remainder of 2000-2001, various other California-based dealerships were acquired, including Hornburg, which held the Jaguar and Land Rover dealership in Los Angeles.
Pendragon PLC bought Reg Vardy PLC in December 2005, taking on a total of ninety six new dealerships. However, in April 2006, Pendragon were unable to complete a proposed takeover of Lookers. Soon thereafter, the automotive industry was hit by a recession, leading to the closure of dealerships, and job cuts in both the United Kingdom and United States.
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Operations
The Pendragon Group is organised into several divisions:
- Stratstone represents a variety of luxury car and motorcycle manufacturers, including Aston Martin, BMW, Ferrari, Harley-Davidson, Jaguar, Land Rover, Mercedes-Benz, Mini, Morgan, Porsche, Smart and Triumph.
- Evans Halshaw is a volume car retailer with manufacturer brands including Vauxhall, Ford, Citroën, Peugeot, Renault, Nissan, Hyundai, Kia, Honda, Dacia and SEAT.
- California focuses on car sales in the United States.
References
External links
- Pendragon PLC - Official Website
- PENDRAGON PLC 02304195 via Companies House
Source of article : Wikipedia
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