Joe Duffy Motors set to acquire Ireland's biggest VW dealership
Joe Duffy Motors - one of the country's largest auto groups - is acquiring another Volkswagen dealership despite the huge reputational damage that's been done to the German brand as a result of the emissions scandal.
The managing director of Joe Duffy Motors, Gavin Hydes, confirmed that the company is planning to buy the country's biggest Volkswagen dealership, Karmann Volkswagen, situated beside the M50 in Dublin.
It will bring the total number of VW dealerships in the Joe Duffy Motors group to three. It acquired another dealership, in Co Meath, this year.
The M50 Volkswagen dealership is owned by Karmann Auto, which is part of the Redco group that controls the Honda distribution network in Ireland. The acquisition has to be cleared by the competition commission.
Joe Duffy Motors is synonymous with the BMW marque, but it also sells brands including Seat, Kia, Mini, Jaguar, Audi, Mazda and Ford.
Mr Hydes told the Irish Independent that the acquisition of Karmann Auto will add 28 staff to the Joe Duffy Motors group, bringing the total to 380.
He said the acquisition of the VW dealership underlines Joe Duffy Group's confidence in the German brand.
Joe Duffy Motors more than doubled its operating profit last year, to €5.2m. Turnover rose 48pc to €168m. Revenue this year will exceed €220m.