A California-based group grew by two dealerships in separate deals that closed in its home state.
Driving the news: Cardinale Automotive Group purchased its first-ever Ford dealership from Chris Kwei, in a deal that closed June 18. It added a Hyundai store on July 2, from seller Tony Pappas.
For context: Upton Ford of Oakland, in that California city, was renamed Ford of Oakland.
And Hyundai of Tracy, about 60 miles east of San Francisco, was renamed Hyundai of Tracy.
Both stores are about two hours from the group’s corporate offices in Marina, California.
What they’re saying: Jay Burlinson, director of strategy and operations, said the group was in growth mode.
He credited his grandfather-in-law, Joseph Cardinale, president and founder, for the success.
“I'm very biased, but he's an incredible man,” Burlinson said. “He started with one used car lot, and now owns and operates a 30-rooftop group that includes domestic, import, and luxury brand stores in California, Nevada, and Arizona.”
Strategic note: Cardinale praised the new brands and said that they’ll keep pursuing “strategic growth.”
“Our relationship with Hyundai has been exceptional, and we're proud to deepen it with another store,” Cardinale said. “Adding Ford, one of the most iconic brands in American automotive history, to the Cardinale family for the first time is a milestone for us.”
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by Presidio.
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