The neoclassic convertible named Bancroft was developed in the USA by Hugh Bancroft and Bryan Warmack in Costa Mesa, California. The styling was based on a Packard roadster of the mid-thirties. The technology of the car came mainly from Mercedes-Benz, including the 5.0-liter V8 engine. A limited series of 300 examples was planned. They were hand-built by GFG Exklusiv-Cars GmbH in Gronau-Epe and later Satzvey, Germany.

The car had its world premiere at the Geneva Motor Show in 1990.