Canadian auto retailer Knight Automotive Group has bought 5 California dealerships from the Lasher Auto Group.
Knight purchased:
The deal was brokered by Kerrigan Advisors. Monetary phrases of the transaction weren’t disclosed.
Elk Grove is a bed room group about 25 kilometres south of Sacramento.
The acquisitions are not any small potatoes. Elk Grove Chrysler-Dodge-Jeep-Ram is the third and 14th highest quantity Chrysler-Dodge-Jeep-Ram dealership in California and the USA, respectively, Kerrigan stated in an announcement.
The Subaru retailer is the best quantity Subaru dealership within the Sacramento area, primarily based on 2021 new unit gross sales, in keeping with Kerrigan.
Mark Lasher, co-owner of Lasher Auto Group, didn’t say why the group offered its shops, however referred to as them a “profitable monetary alternative in the Sacramento auto retail market.”
Established in 1955, Lasher Auto Group started when Wes Lasher opened his preliminary Volkswagen retailer in Sacramento. In 1972, he opened an Audi dealership, and ultimately handed over administration to sons Mark and Scott Lasher.
Scott Lasher advised the Sacramento Enterprise Journal that mixed, the dealerships make use of 435 folks, and all will maintain their jobs.
Lasher additionally advised the publication that the sale “was the proper factor to do on the proper time for us. It’s been a great, future.”
The purchases improve Knight’s presence in California to eight shops. In June, it bought a Stellantis dealership in Claremont, Calif., from the John Elway Dealership Group.
A 12 months in the past, Knight made its first foray into California with the acquisition of Dawn Ford Fontana and Dawn Ford North Hollywood.
Knight additionally has 9 dealerships in Alberta, Saskatchewan and British Columbia, in keeping with its web site.
Knight did not instantly touch upon its newest acquisitions.
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