Joe Duffy Group to buy part of rival Motorpark pending approval
Auto dealer hopes mergers watchdog approves sale on time for it to go through next month
Joe Duffy Motor Group: the group has 11 separate car franchises, along with commercial vehicle operations for Ford and Volkswagen, and BMW’s i sub-brand
Auto dealer Joe Duffy Group plans to buy part of rival Motorpark pending approval from regulators.
Joe Duffy’s parent, JDM Automotive, has agreed to buy Motorpark Athlone, a Ford and Volvo dealership owned by the Galway-based Motorpark Group, close to the midlands town.
The pair notified the proposed purchase to the State’s mergers watchdog, the Competition and Consumer Protection Commission, which must approve the deal before it can go ahead.
Joe Duffy chief executive Gavin Hydes said he hoped the commission would approve the sale on time for it to go through late next month.
If the deal goes ahead, it would see a further 20 workers joining the Joe Duffy Group and add a second Ford and Volvo dealership to its business. Neither side revealed the price that JDM will pay for Motorpark Athlone.
Joe Duffy has 11 separate car franchises, along with commercial vehicle operations for Ford and Volkswagen, and BMW’s i sub-brand.
The group operates these from 12 different locations and last year said it was working on a €25 million expansion plan.
In 2016 it earned profits of €8.41 million on a record turnover of €281 million. It employed 371 people.
Motorpark, owned by businessman Michael Barry, runs three dealerships, Galway, Sligo and the Athlone operation that the company has just agreed to sell to its competitor.
Figures for 2016 show that it earned profits of €3.6 million from sales of €39.8 million.
Mr Barry said the staff transferring to Joe Duffy would benefit from being part of a group with ambitious expansion plans.