Rising Parks Automotive Group has entered a brand new market in Virginia with the acquisition of three luxurious dealerships.

Parks Automotive, of Kernersville, N.C., on Sept. 12 purchased Duncan Acura in Roanoke, Audi Roanoke and BMW Roanoke, all in Virginia, from Gary Duncan of Duncan Automotive Community, in accordance with buy-sell advisory agency Tim Lamb Group of Columbus, Ohio. Bob Morris, director of the Southeast area for the Tim Lamb Group, represented the vendor within the transaction.

Two shops have been renamed Parks Acura and BMW of Roanoke, whereas the Audi Roanoke identify stays. Roanoke is in Southwest Virginia.

“We’re excited to supply locals with a world-class expertise that exceeds expectations,” Adam Parks, president of Parks Automotive, mentioned in an announcement. “My household has been doing simply that all through the Carolinas for over 50 years and I can not wait to ascertain our legacy right here in Roanoke.”

Acura, Audi and BMW are new manufacturers to the group’s portfolio, Parks, a 2012 Automotive Information 40 Below 40 honoree, confirmed to Automotive Information in an e-mail.

The acquisition bolsters Parks Automotive’s presence in Virginia. The group has a Chevrolet retailer within the state capital, Richmond, in accordance with the auto retailer’s web site.

Parks confirmed the deal follows two acquisitions final yr and is the primary acquisition for the reason that group purchased a Ford retailer in Hendersonville, N.C., in November 2021. Parks Automotive additionally purchased a Chevrolet dealership in Spartanburg, S.C., in October 2021.