It paid £6.4m goodwill and £2m of Vertu shares for Hillendale’s Land Rover dealership in Nelson and Jaguar dealership in Bolton.

Hillendale has agreed not to dispose of the shares for 12 months from completion. For the year ended 31 December 2013, Hillendale generated revenues of £34.9m and earnings before interest, taxes, depreciation, and amortization (EBITDA) of £1m.

Vertu said the business would be earnings enhancing in its first full year of ownership.

The deal develops Vertu’s relationship with Land Rover in a territory contiguous with its Farnell Land Rover business in Yorkshire. It is the group’s first Jaguar dealership.

Robert Forrester, CEO of Vertu Motors said: “We are delighted to announce the next step in our growth with Jaguar Land Rover and our entry into the Jaguar franchise.

“Land Rover remains one of the most attractive franchises from the perspective of the motor retailer, and we are very pleased to extend the reach of the group’s highly successful businesses in Leeds, Guiseley and Bradford into Lancashire,” he said.

Vertu’s final results for the year ended 28 February 2014 are out tomorrow, 7 May 2014.