It was an intense first two weeks in the dealership buy-sell world as transactions involving 38 stores were either closed or announced through December 15. December is shaping up to be a huge month which could put the industry near 500 rooftops exchanging hands in 2015. It’s the biggest two week stretch since The Banks Report began compiling dealership buy-sell data in January 2013. The sizzling pace follows a slow November which saw less than 20 stores with new owners.
The Fields Auto Group acquired the seven dealership Brumos Automotive Group in Jacksonville, FL. Following the deal’s close, Fields will have 32 dealerships located in Florida, North Carolina, Illinois and Wisconsin. It’s one of approximately 50 dealer groups that generates more than $1 billion a year in revenue.
The Brumos stores include Mercedes Benz, Lexus and Porsche franchises. It’s 56 year old Porsche dealership is legendary due to Brumos’ racing relationship with Porsche, having won numerous endurance races through the years. Owner Dan Davis will retain the Brumos name and racing -affiliated companies.
Terry Taylor’s AMSI group closed on the Swope group this week adding 11 stores to its portfolio. The Swope name will be removed from the 11 dealerships. Apparently, AMSI may have already closed one of the dealerships — a Fiat store. Local papers are reporting that staff have been moved to other stores along with signage being removed and inventory disappearing.
AMSI also acquired the four-store Ted Russell group in Knoxville earlier this year.
AutoNation announced its 35th dealership acquisition last week — the purchase of Renton Honda in Washington from Lanphere Enterprises. Owner Bob Lanphere died in October while on a cruise with Honda in Europe so it’s possible the group is selling their stores or it could be dialing back to the Portland area where the majority of its stores are located.
Lanphere also sold its Kia store in Renton to the CarPros group. The group still has stores in Beaverton, Wilsonville and Newburg — all in Oregon.
Flow Automotive – Ingold Family
The Don Flow Automotive Group announced the acquisition of Burlington Honda in North Carolina from the Ingold family, long time dealers in North Carolina. It was the Ingold family’s last dealership.
MBB Auto-Langan Family
Manny Kadre’s MBB Auto Group acquired Northway Toyota, Langan Audi and Capital Cities BMW from the Langan Family in Albany, NY. The purchases will give Kadre 14 dealerships in New York and New Jersey.
Mark McLarty’s automotive group announced yesterday it has acquired four dealerships in Little Rock, AR from the Asbury Automotive Group. Mclarty, which has acquired 13 stores since 2104 also purchased seven stores from the Joe Machens Group in October.
Asbury, meanwhile, has acquired only two dealerships this year while selling seven — the Princeton BMW MINI store to the Holman Group; a Mercedes Benz dealership in Atlanta to Berkshire Hathaway Automotive; a Porsche store to Todd Blue and four if its Northpoint stores to McLarty.
Billion Automotive-Pritchard Family
The Pritchard Family Auto Stores, fifth generation car dealers, is selling its Ford dealership in Clear Lake, IA to the Billion Automotive Group. The deal should close in late January. Billion has 23 dealership locations in South Dakota, Iowa and Montana.
Ben Keating, well-known in racing circles for his prowess in driving the Dodge Viper in various racing series, is also building a dealership empire in Texas. With the acquisition of Garlyn Shelton Imports in Bryan TX, last week, Keating now has BMW, Mazda, Hyundai and Volkswagen franchises that he has renamed Brazos Valley Imports. He now owns 14 dealership locations.
Shelton, meanwhile, appears to be in sell-mode having sold his Mercedes Benz store in Georgetown to Group 1 earlier this year.
Sources tell us the Bud Clary group closed on the acquisition of Tom Matson’s two dealerships in Auburn, WA — Chrysler Jeep Dodge Ram and Hyundai. Matson had been selling cars for approximately 69 years in Washington. Clary now has 10 dealerships and is now run by Kelly Clary, a third generation dealer. His grandfather, Ira Clary started the business in Idaho in 1949 as a gas station.
D’Arcy Motors closed on the Talty Chevrolet Buick Cadillac store in Morris, IL. The Talty family had owned the dealership since 1974.
The Todd Wenzel Automotive Group, a dealership group with stores throughout Michigan, in early December completed the purchase of the Red Holman Buick GMC store in Westland, MI, a suburb of Detroit. The store was owned by Dan Martin and Larry Malinowski.
Kody Motor Holdings followed up last year’s acquisition of Honda dealership and Chevrolet dealerships in Waldorf, MD in 2014 with the purchase of Toyota of Waldorf this month. Allen Roys, the owner of the Toyota dealership, died in May of this year.
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