Channel Island car dealership Jacksons £42m sale agreed
Jobs are safe at one of the largest car dealerships in the Channel Islands, according to the new owners.
The £41.7m sale of Jacksons CI to investment company Ravenscroft was completed on Friday after approval from the competition and finance regulators.
The deal includes the Jacksons and Motor Mall car showrooms in Jersey and Guernsey, Trinity Tyres in Jersey and St Martin's Tyres in Guernsey.
All 250 staff have been told their jobs are safe, said CEO Paul Collier.
The former managing director has taken on the role of chief executive officer following the sale.
He said they had "liaised closely with the 23 vehicle marques we represent to assure them that it is business as usual".
The previous owner, Tom Scott, has become a director of the firm.
The sale was subject to approval from the Jersey Competition Regulatory Authority and the Jersey Financial Services Commission.