The Ridgeway Group Purchases Pentagon Limited

The Ridgeway Group, the Berkshire and Oxfordshire-based Motor Group representing Audi, Volkswagen, Skoda and Volkswagen Commercials, have purchased Pentagon Limited. Pentagon Limited operates the Mercedes-Benz Passenger Car and smart franchises in Chichester, Portsmouth, Southampton and Winchester.

The company also represents Chrysler, Dodge and Jeep in Portsmouth, Mercedes-Benz commercial vehicles (Truck and Van) and Mitsubishi FUSO franchises are held in Poole, Fareham, Southampton and Andover. The Ridgeway Group has purchased all the shares of the Business for an undisclosed sum. The reason for the sale was the retirement of the two main shareholders, Mike Tebbitt (Chairman) and Mike Wilson (CEO). Ridgeway Group Managing Director, David Newman, comments "This acquisition is a perfect strategic fit for us in terms of franchises and location being contiguous to our existing businesses. We are delighted to add all these brands to our portfolio and are excited to be working with them. Everyone I have met has been highly professional, supportive and welcoming. Our existing Volkswagen Group partners - who were kept fully informed of the pending acquisition, have also been understanding and supportive of our need to expand and spread our risk and opportunity".

22 February 2007 Staff

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