Cash windfall for car firm chief

CD Bramall specialises in luxury cars

The chairman of a car dealership based in Harrogate is set to receive a £75m windfall after agreeing a takeover bid.

Tony Bramall, whose family has a 33% share in CD Bramall, is to be bought by the UK's largest car dealer, Nottingham-based Pendragon.

The North Yorkshire company was founded by Mr Bramall in 1990.

It has a total of 133 franchises from 111 outlets and is also involved in the leasing and rental of vehicles.

Pension rights

Its car division includes franchises with Audi, BMW, Citroen, Ford, Jaguar, Land Rover, Mercedes-Benz and Vauxhall.

In its offer, Pendragon said it had assured CD Bramall that the existing employment rights - including pension rights - of all its 6,000 employees would be fully safeguarded.

Pendragon said the move would have very little impact on jobs.

It is expected the two companies will continue to run as separate businesses still operating under their existing names.