July 2014 - Automotive Buy Sell Report

Group 1 sells Freehold, NJ Honda dealership

Posted By: Alysha Webbon: July 31, 2014In: Transaction News

Houston-based Group 1 Inc. has sold a Honda dealership in Freehold, NJ. The store generated approximately $65.0 million in trailing 12-month revenue. Group 1 President and CEO, Earl J. Hest... Read more

Asbury to double buy pace; Lithia says still looking for buys after digests DCH

Posted By: Alysha Webbon: July 28, 2014In: Related News

Asbury Auto Group Inc. aims to double its pace of acquiring new stores in order to meet its goal of adding $750 million in revenue between 2013 and 2015. That is a $250 million increase in t... Read more

Lexus lifts cap on store ownership to 8 from 6. Will this spur acquisitions?

Posted By: Alysha Webbon: July 25, 2014In: Related News

Lexus has reportedly lifted the cap on the number of stores a group or individual can own to eight from six. Will this spur acquisitions? Won’t owners hold on to their stores? Is Lexu... Read more

Delaware’s Hertrich group buys Hyundai store in Colorado in first move west

Posted By: Alysha Webbon: July 25, 2014In: Transaction News

The Hertrich Family of Auto Dealerships, based in Delaware, is headed west. Fred Hertrich has purchased Crossroads Hyundai of Loveland, CO from Doug Moreland. It is the first dealership in t... Read more

Michigan’s Suburban Collection buys BMW and Mercedes stores from Sonic

Posted By: Alysha Webbon: July 24, 2014In: Transaction News

The Suburban Collection has acquired a BMW dealership and a Mercedes dealership in Ann Arbor, Mich., from Sonic Automotive Inc., part of what Suburban CEO Dave Fischer said is a refocus on e... Read more

Greenway Group of Florida buys another Chrysler Jeep Dodge store in Texas

Posted By: Alysha Webbon: July 22, 2014In: Transaction News

Greenway Group of Orlando, FL has acquired a Chrysler Jeep Dodge Ram dealership in Frisco, TX. The seller was Pat Lobb, who also owns a Toyota dealership in McKinney, TX. Lobb only opened... Read more

Patrick Dibre acquires Long Island Volvo dealership from Group 1

Posted By: Alysha Webbon: July 22, 2014In: Transaction News

Patrick Dibre has acquired Hassel Volvo from Group 1 Auto Inc. The Volvo dealership, located on Long Island, NY, is now known as Glen Cove Volvo. The transaction was completed on June 23, 20... Read more

San Antonio’s Ancira Auto says multiples are too high; prefers open points to acquisition

Posted By: Alysha Webbon: July 21, 2014In: Contributors, Dealership Profiles

By Alysha Webb, Editor and Publisher Dealerships in the south-central Texas city of San Antonio are doing well. The economy is strong and the Eagle Ford Shale oil discovery in south T... Read more

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JAMOC LLC acquires Chrysler Dodge Jeep Ram auto dealership in California

Melvin Cooper acquires Mid Bay Chrysler Dodge Jeep Ram auto dealership in California

Melvin Cooper acquires Mid Bay Ford Lincoln dealership in California

Moving beyond “Good Enough” business performance

What justifies massive multiples for luxury auto dealerships?

The Park Place Dealerships sale may herald changes in buy sell market, says The Presidio Group

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