Management of Cambria Automobiles, a retailer of automobiles, agreed to acquire the company for £80m ($113m). "In recommending the cash offer to the Cambria Shareholders, the independent committee believe it is in the best interests of all stakeholders, enabling them to realize significant and immediate value, whilst enabling the long term success of the business. Therefore, the Independent Committee is unanimously recommending the cash offer," Philip Swatman, Cambria Chairman.