Dealerships , , ,

ONE of Australia’s longest established family dealerships, the Lance Dixon Group, has been sold to Automotive Holdings Group Ltd (AHG) for $12 million.

The deal, finalised this week, includes both stock and assets of the Lance Dixon Group that was started in 1965 by its namesake.

The Lance Dixon Group owned many prestige brand dealerships in Melbourne’s eastern suburbs of Doncaster and

Collingwood including Bentley, Abarth, Fiat, Alfa Romeo, Land Rover, Range Rover and Jaguar.

AHG also bought the Sinclair Hyundai dealership in Penrith in Sydney’s west. The dealership, owned by Tony Pace and directors Ray Zerafa and Mark Dundler, has been operating since 1969 under founder Ross Sinclair (who retired in 2000) and became a Hyundai dealer in 1988.

Sinclair Hyundai was bought for $6.5 million plus goodwill, stock and assets.

AHG managing director Bronte Howson said the transactions represented an effective rebalancing of AHG’s portfolio of brands and gave an entry into the luxury vehicle sector in Victoria.

It also combats the 2015 purchase by AHG-rivals AP Eagers of a trio of Mercedes-Benz dealerships in Victoria that were previously owned by the Birrell Motor Group and was AP Eager’s first entry into the Victorian luxury market.

Mr Howson said the purchase of Sinclair Hyundai filled gaps in AHG’s portfolio and that the dealership is expected to perform well.

“Hyundai is a strong volume brand and has been under-represented in our NSW operations,” he said.

Meanwhile, AHG has sold its Duncan Nissan dealership in Perth’s Victoria Park. It is the city’s longest-running Nissan dealer.

The business goes back to the days when the Duncan Motor Company was the Nissan distributor for Western Australia and run by Gordon Crump. Mr Crump’s son, Phil, is the WA state manager for FCA Australia.

In a statement, AHG said that the sale of Duncan Nissan, for $3 million plus stock and assets, was part of a “rebalancing of AHG’s Nissan portfolio”.

It also has Nissan franchises in Perth at Clarkson, Cannington, Osborne Park and Wangara. Outside of WA, it has Nissan outlets in Brisbane, Newcastle, Sydney, Melbourne and Auckland.

By Neil Dowling

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