Driving the news: Faricy Automotive purchased its first-ever Kia dealership from Bill Byerly in Colorado. The deal closed April 2.
For context: Faricy purchased Peak Kia Colorado Springs, about 70 miles south of Denver.
The group also owns three other Colorado dealerships, selling Ford, Chevrolet, GMC, Chrysler, Dodge, Jeep, and Ram.
They renamed the new store Faricy Kia.
And, the group’s name changed, too, from The Faricy Boys to Faricy Automotive, the group’s third moniker since the company’s founding nearly 85 years ago.
What they’re saying: Ben Faricy, president and third-generation leader of his family’s group, told CDG News that the latest acquisition helped inspire them to reflect and rebrand.
“...It’s bigger than me and my brother, who were The Faricy Boys,” Faricy said. “We chose to rebrand under a name that would position us for long-term growth, and recognize that it's the collective success of our 200-plus people, the men and women on our team, that allows us to continue to grow.”
Worth noting: Owen Faricy, the grandfather of brothers Ben Faricy and Paul Faricy, founded Owen Faricy Motor Co. in 1942.
Owen Faricy’s sons, Mike Faricy and Joe Faricy, changed the name to The Faricy Boys in 1997.
What’s next: Ben Faricy said the group is excited to partner with Kia and will continue to expand in Colorado, though for now, they’ll focus on integrating the latest acquisition.
“We believe that it's important for us to continue to grow to provide opportunity for our people and to have the right amount of scale…,” Ben Faricy said. “But importantly, that we [also] remain small enough to provide a really personal experience for both our customers and our teams.”
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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