Pendragon PLC

Pendragon PLC
Public limited company
Traded as LSE: PDG
Industry Car Sales
Headquarters Annesley, Nottingham
Key people
 Mel Egglenton (Chairman)
Trevor Finn (CEO)
Products Vehicles
Revenue £4,453.9 million (2015)[1]
£100.5 million (2015)[1]
£72.9 million (2015)[1]
Website www.pendragonplc.com

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.

History

Stratstone near Durham

Pendragon became a public limited company, when the vehicle division of Williams Holdings which operated 19 car dealerships, was demerged in 1989. From its establishment in 1989 until April 2010, the company was chaired by Sir Nigel Rudd.[2][3]

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.[4]

In 1997, an acquisition of Lex Service PLC and their 17 volume car dealerships took place.[5]

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.[4] After this, a further 32 franchised dealerships were bought from Lex Service PLC in March 2000.[6]

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.[7]

Pendragon PLC bought Reg Vardy PLC in December 2005, taking on a total of 96 new dealerships.[8] However, in April 2006, Pendragon were unable to complete a proposed takeover of Lookers.[9] 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.[10][11]

Operations

The Pendragon Group is organised into several divisions:[12]

References

  1. 1 2 3 "Annual Report for year ended 31 December 2015" (PDF). Pendragon. Retrieved 10 April 2016.
  2. ↑ "Sir Nigel heads for Invensys boardroom", Daily Mail, 5 December 2008.
  3. ↑ Graham Ruddick, "Pendragon's Sir Nigel Rudd to step down after 20 years", The Daily Telegraph, 30 April 2010.
  4. 1 2 "Top 200 companies: Pendragon". Nottingham Post. 16 June 2015. Retrieved 22 August 2015.
  5. ↑ "PENDRAGON CASTS A LONG SHADOW". Motor Trader Magazine - Motor Industry: News - Jobs - Awards. Retrieved 22 August 2015.
  6. ↑ "Lex rolls out £78m car dealer sale". This is Money. Retrieved 22 August 2015.
  7. ↑ "Pendragon buys Jaguar and Land Rover outlets in US". am-online.com. 18 April 2001. Retrieved 22 August 2015.
  8. ↑ Scott Reid, "Pendragon in top gear", The Scotsman, 26 April 2008  – via HighBeam Research (subscription required) .
  9. ↑ "Pendragon takeover plan falters", The Birmingham Post, 28 April 2006  – via HighBeam Research (subscription required) .
  10. ↑ Clinton Manning, "your money: Pendragon faces bumpy ride", Daily Mirror, 1 July 2008  – via HighBeam Research (subscription required) .
  11. ↑ Scott Reid, "Pendragon's warning of bumpy road ahead in 2008 for car sales", The Scotsman, 21 February 2008  – via HighBeam Research (subscription required) .
  12. ↑ "Divisions". Pendragon. Retrieved 22 August 2015.

External links

This article is issued from Wikipedia - version of the 10/29/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.