LISTED Australian automotive dealer company Autosports Group has boosted its dealership presence by buying 10 dealerships in Victoria from Barry Bourke Motors.

It paid $34 million for two complexes in Berwick and Doncaster to further cement its luxury and prestige vehicle presence and add 10 franchises, including additional outlets for Audi, Land Rover, Jaguar, Volvo and Geely.

The purchase also adds GMSV, LDV, Peugeot, Renault and Suzuki to the group for the first time.

Autosports now has 23 franchises, with the five new brands bringing that to 28. It also has 75 dealerships, to be lifted to 85.

Barry Bourke Motors, a family-owned business started in the 1990s and led by Darren Bourke, showed FY25 revenue of $212.4 million, according to Autosports’ notice to the Australian Securities Exchange (ASX).

Autosports said the purchase, to be completed in December and conditional to consents, was expected to be immediately accretive.

It said the purchase – which would “strengthen collaboration with Audi, Jaguar Land Rover and Volvo Cars – would also secure flagship locations in key markets.

The price was $29 million for goodwill and about $5 million for net tangible assets, and plant and equipment.

Autosports said that $14 million of the purchase price would be in AS\G shares to be issued at $4.50 per share. 

“The cash portion of the purchase consideration is intended to be funded by existing debt facilities,” the company said.

Autosports CEO Nick Pagent said: “This strategic acquisition deepens our collaboration with Jaguar Land Rover, Audi, Volvo Cars and Geely, while expanding our presence in Victoria,”

“The acquisition is expected to be immediately earnings accretive, with business margins anticipated to improve to Autosports Group’s average margins within the first 12 months.

“We acknowledge the goodwill and support of Barry Bourke and Darren Bourke throughout the transaction process and thank our OEM partners for their continued commitment and support.”

Nick Pagent

The 10 dealerships bought from Barry Bourke Motors are Audi, Volvo Cars, Jaguar Land Rover, Geely, GMSV, LDV, Peugeot, Renault and  Suzuki in Berwick, and Jaguar Land Rover in Doncaster. 

Mr Pagent also said that Jaguar Land Rover in Doncaster and Berwick will operate alongside an existing dealership for the brand in Brighton. Audi Berwick would be its seventh location for the brand and its first in Melbourne.

He said Volvo Cars in Berwick would operate alongside Autosports Brighton, Doncaster and South Yarra Volvo Cars dealerships.

Autosports chairman Peter O’Conell said that the company had become “a luxury OEM partner of choice.

“These partnerships are built on years of performance, trust, and shared commitment to excellence, providing us with access to new opportunities and the ability to represent an outstanding portfolio of luxury brands that positions us strongly for the future,” he said.

“We have organically grown our portfolio to 14 Geely Holding Group dealerships, after opening four Polestar sites in Sydney and Melbourne, two Zeekr sites in Melbourne, and then after the financial year end, Geely Leichhardt in Sydney, and Volvo Cars Gold Coast. 

“These are all greenfield sites leveraging our existing operational footprint.”