Driving the news: Partners and first-time franchised dealership buyers Roberto Virgen Jr., Alex Grechanik, and Oleg Kislyansky purchased two Illinois dealerships in separate cities from Dan Roesch in deals that closed on December 8 and December 12.
For context: On December 12, the trio purchased Roesch Chrysler Dodge Jeep Ram in Elmhurst, Illinois, and closed on Roesch Ford in Bensenville, Illinois, on December 8.
The stores were renamed Elmhurst Ford and Elmhurst Chrysler Dodge Jeep Ram.
More than 100 years old, the CDJR store consistently ranks at or near the top in volume
What they’re saying: “It’s rare for first-time buyers to get two stores,” Frank O’Donnell, managing director at Biltmore Automotive Services, said. Biltmore, which often works with new buyers, repped the partners. Dealer Solutions Mergers and Acquisitions represented the sellers.
Bottom line: Lucrative opportunities still exist for first-time buyers and smaller dealership groups, even in this era of consolidation.
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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