Driving the news: Ed Morse Automotive Group acquired a third dealership in the same Missouri town from Terry Graven. The deal closed April 27.
For context: Graven Chrysler, Dodge, Jeep, Ram is in Lebanon, Missouri, about 60 miles northeast of Springfield.
Ed Morse Automotive owns stores selling the Ford and Chevrolet brands across the street from each other, about a mile from the new acquisition.
They renamed the store Ed Morse Chrysler, Dodge, Jeep, Ram.
A storm that roared through about 10 p.m. the night before hammered the dealership's inventory with hail. Assessing the damage delayed the closing by a few hours.
Worth noting: Ed Morse Automotive bought its first Porsche dealership on April 1, and this deal marks the group’s 60th acquisition, including automotive and motorsports stores.
“Wanna know what my favorite dealership is?” CEO Teddy Morse told CDG News. “The next one.”
Based in Delray Beach, Florida, the sprawling private retailer owns more than 50 automotive dealerships across eight states, including Arizona, Colorado, and Texas.
What they’re saying: Morse said he’s not worried about the state of Stellantis.
“Brands have highs; brands have lows,” Morse said. “...We’re not in this to flip dealerships. We're in it for the long haul. I'm in it for my children and for their children.”
Bottom line: Randy Hoffman, COO of Ed Morse Automotive, said the group now sells all new cars and trucks in Lebanon and Laclede County.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, powered by:
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