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Haynes Bros Ltd, the multi franchise dealer group headquartered in Maidstone, has recently sold the assets and trade of its Iveco Truck business for an undisclosed sum to the Truck Dealership Group, Harris Holdings (Grays) Limited (Harris Group), which will reside within Harris Group’s subsidiary Acorn Truck Sales Ltd (Acorn Trucks). This comprises Iveco sales stock that was based at Maidstone, which relocates to Harris Group, as well as its Iveco branded site and aftersales operations, based at Ellingham Way in Ashford. All employment remains secure, and all the staff affected have been consulted about transferring to the new owners Harris Group, which already holds the Iveco franchise at Crayford, Thurrock and North London and also at Witham with Iveco’s Southern PDC (Parts Distribution Centre).
This move by Haynes to sell its Truck business forms part of the Company’s wider Transformation Strategy to focus on less sectors but grow within its other core operational specialisms. Since 2021 Haynes has grown significantly and expanded its Agricultural Operations from Kent and East Sussex into Berkshire, Hampshire, West Sussex and on to the Isle of Wight. It has also expanded its Ford Automotive Operations into East Kent, with two new sites in Canterbury. It has also taken on the brand new and exciting Changan vehicle franchise for both Maidstone and Canterbury and more recently the Vauxhall car and van franchise in Maidstone, with total group sales rising by over £40m over the period.
The Harris Group is also a family business, and specialises in the Truck sector with locations in Essex, Kent, West Sussex, Buckinghamshire and North London operating the Iveco, DAF, and MAN franchises and this move further strengthens their position as a significant operator in the Truck sales and aftermarket business.
Commenting on the sale of the Haynes Truck business, Andrew Haynes, Chairman and CEO of Haynes Bros Ltd, said; ‘We have seen for some years that many dealer groups are getting larger to gain increased economies of scale and we have recently taken full advantage of expansion opportunities in our Automotive and Agricultural machinery businesses. Unfortunately, there is little opportunity to expand further with our Truck business which is getting more specialised with large Truck Groups looking after increasingly large national fleets. We therefore felt the time was right to look for another similar business to ours with a strong family culture, that is continuing to grow in the sector and who could offer our highly professional Truck team a bright and secure future. We are, of course, very sorry to see our Truck team leave the Haynes fold to go to Harris, but I am confident they will have good opportunities with another large family company, and one which is entirely dedicated to the Truck business’.
James Broadley, Group Managing Director of Haynes, who has worked closely on the deal said; ‘The last few years for Haynes have been an enormous period of change for the Company as we grow and define how we wish to be structured for the future. In our 235 year history we have seen the Company adapt and transform to new market dynamics and we see our future now as strong players in the Agricultural sector with our franchise partners CNH and JCB and also strong players in the automotive sector, with our longstanding partner Ford Motor Company and our new partners, Changan and Vauxhall. Unfortunately, this means that we have needed to find a new home for our Truck business, given expansion opportunities here were limited for us as well as the changing dynamics of the haulage business. However, I am delighted that our Truck team has potential full employment with a growing and highly professional and respected Truck Dealership Group’.
James Selway, Group Managing Director of Harris said; ‘This is another important step forward for our business as we look to expand our territorial coverage even further into Kent with our franchise partner, Iveco. We have known of the Haynes business for many years and also of their dedication to customer service and therefore their Truck business is a natural fit for us and we are now very pleased to welcome the Haynes team into our family business’.
For more information contact: James Broadley or Kay Bangle on 01622 756781.
IVECO Dealer In Kent, Essex & Hertfordshire | Acorn Truck Sales Ltd | IVECO Dealership
Haynes Brothers Limited is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Haynes Brothers Limited to act as a credit broker, not a lender, for the introduction to a limited number of lenders, and to act as an agent on behalf of the insurer for insurance distribution activities only.
We are a credit broker and not a lender. We can introduce you to a carefully selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. We act on behalf of the lender for this introduction and not as your agent. We are not impartial, and we are not an independent financial advisor.
Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next most suitable offer of finance for you. Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee, or a fixed percentage of the amount that you borrow. This may be linked to the vehicle model you purchase.
Different lenders pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.
Haynes Agricultural Limited, Haynes Agritec Limited , Haynes Brothers Limited, Haynes of Maidstone Limited.
Registered in England & Wales: 00048511
Registered Office: Address: 23 Ashford Road, Maidstone, ME14 5DQ
Data Protection No: Z5658230
Firm Reference Number: FRN 1001070
