The board of Quicks believes that the £40.16m deal, announced last Friday, is in the best interests of the company, which today announced a 6.6 per cent. increase in annual turnover to £589.6m.

Pre-exceptional profits for the year ended 31 December 2001 were up from £2.2m to £4.7m and earnings per share rose from 2.7p to 5p. In view of the offer, the board is not recommending a final dividend.

The company, whose Quicks for Ford slogan is still well-remembered in the north-west, was founded by brothers Harry and Jimmy Quick in 1912, beginning with a taxi service, which went on to gain a dealership from the Ford Motor Company, then building cars in Manchester. Quicks was based in Trafford Park until three years ago when it moved to St Albans.

It has been in takeover talks following the purchase of 8.4 million of its shares by Brightdart, a company owned by Tony Bramall, the C D Bramall plc chairman, which took his holdings in the firm to 50.48 per cent., making him obliged under UK law to make an offer for the rest of the business.

He tabled an offer of 100p in cash for the remaining shares, a 19 per cent. premium over the closing price of 84p on 15 February, the day before Quicks announced it had received an approach.

Rickitt Mitchell advised Brightdart Limited and C D Bramall plc.