Categories: News

Four groups buy dealerships in Colorado, New York and Texas in Q4 transactions

4 dealership teams in fourth-quarter 2021 transactions purchased both one or two shops as they expanded portfolios in Colorado, New York and Texas.

Here is a take a look at the offers involving import, home and luxurious manufacturers. One of many transactions concerned a gaggle on Automotive Information‘ high 150 dealership teams listing.

Fred Emich IV and three companions in November purchased a Volkswagen dealership in Boulder, Colo., marking the group’s second retailer with the German model.

Emich IV mentioned that he and his father Fred Emich III, cousin Colton Emich and Robert Colbert purchased Gebhardt Volkswagen on Nov. 12 from Jim Gebhardt.

The dealership was renamed Emich Volkswagen of Boulder.

“We’re hopeful the VW franchise will enhance with electrification,” Emich IV, supplier principal of the Boulder retailer, mentioned in an e mail to Automotive Information. “We’ve got a profitable VW retailer in Denver and felt the addition gave us a strategic benefit whereas not competing in opposition to one another.”

Emich Automotive additionally features a used-vehicle dealership in Denver and Emich Chevrolet in Lakewood, Colo., in line with the group’s web site.

Fred Emich IV was an Automotive Information 40 Beneath 40 honoree in 2012.

Empire Automotive Group of Huntington Station, N.Y., expanded with the acquisition of two New York dealerships in December, considered one of which will get it nearer to New York Metropolis.

The group on Dec. 14 purchased Metropolis Buick-GMC-Cadillac in Lengthy Island Metropolis, N.Y., from Sam Fox.

Empire Automotive Normal Counsel Joseph Gentile, in an e mail to Automotive Information, mentioned the group briefly relocated the dealership to a close-by location in Woodside, N.Y., because it plans to assemble new, separate showrooms for Cadillac and Buick-GMC on the Lengthy Island Metropolis website. He mentioned building, set to start this spring, must be accomplished in about two years.

That retailer was renamed Empire Cadillac of Lengthy Island Metropolis-Empire Buick-GMC of Lengthy Island Metropolis.

On Dec. 16, Empire Automotive additionally bought Smithtown Volvo Automobiles in St. James, N.Y., from James George. The dealership was renamed Empire Volvo Automobiles Smithtown.

Gentile mentioned Empire, now with 13 dealerships together with a used-vehicle retailer, is “always on the lookout for alternatives to increase.”

He mentioned Empire CEO Michael Brown sees a “shiny future” for the Volvo model amid its dedication to electrical automobiles. Gentile mentioned Empire Automotive operates a profitable Buick-GMC dealership in Westchester County, N.Y., that it acquired in 2020. And Brown beforehand operated a Cadillac franchise and is worked up to return to the model, Gentile mentioned.

“Empire additionally seen this as the proper alternative to interrupt into the boroughs of New York Metropolis,” Gentile mentioned. “It is a problem which Empire understands can yield large rewards.”

Empire Automotive ranks No. 95 on Automotive Information‘ most up-to-date listing of the highest 150 dealership teams based mostly within the U.S., retailing 9,726 new automobiles in 2020.

Sames Auto Group expanded its Texas footprint late within the fourth quarter of 2021 with the acquisition of two dealerships within the southern a part of the state.

Sames Auto on Dec. 8 purchased Household Nissan of Laredo and Household Chevrolet in Laredo from Paul Younger and Greg Morgensen, in line with Invoice Scrivner, CEO of Pinnacle Mergers & Acquisitions, a Frisco, Texas, buy-sell agency. Scrivner together with Pinnacle’s Mike Sims represented the sellers within the transaction.

Laredo is southwest of San Antonio, close to the Mexico border.

The dealerships had been renamed Sames Laredo Nissan and Sames Laredo Chevrolet.

Sames Auto, of Laredo, has 9 different franchised dealerships in its portfolio, in line with its web site.

Clay Cooley of the Clay Cooley Auto Group in Irving, Texas, bought a standalone Cadillac dealership in Garland, Texas, late final 12 months.

Cooley on Nov. 17 purchased Garland Cadillac from Chris Doherty of Doherty Automotive Group, in line with Pinnacle’s Scrivner. Scrivner and Wes Hamilton from Pinnacle represented the vendor within the transaction.

The dealership was renamed Lone Star Cadillac.

In 2018, Doherty Automotive purchased the Cadillac dealership from publicly traded auto retailer Sonic Automotive Inc. Sonic opted to promote the dealership at the moment as a result of it mentioned the automaker wished a facility improve that Sonic deemed did not meet its return on funding, a Sonic government instructed Automotive Information on the time.

админ

Share
Published by
админ

Recent Posts

Kia Is Already Working On A Facelifted Sorento

It doesn’t appear that way back, however the fourth era of the Kia Sorento was…

3 hours ago

Peugeot launches electric 308 with new motor, 400 km range

PARIS -- Peugeot will launch a full-electric model of the 308 compact hatchback and station…

8 hours ago

Hulkenberg a leading candidate for Haas in 2023

3:58 AM ETNico Hulkenberg is a front-running candidate to interchange Mick Schumacher at Haas subsequent…

8 hours ago

Ducking Huge! Jeep Bringing The World’s Largest Rubber Duck To Detroit Auto Show

For the reason that pandemic began, a brand new pattern has cropped up amongst Jeep…

8 hours ago

How Rivian benefits from Mercedes electric van tie-up

Rivian simply added nearly $3 billion to its market capitalization in a day, and all…

8 hours ago

VinFast to start Canadian deliveries in November

VinFast, an electrical carmaker backed by Vietnam’s richest man, will ship about 5,000 autos to…

8 hours ago