Driving the news: Fletcher Jones Automotive Group purchased a luxury dealership from Group 1 Automotive, Inc., in California, in a deal that closed March 3.
For context: Fletcher Jones, which mostly owns luxury dealerships, purchased Mercedes-Benz of Beverly Hills in California.
The private retailer sold dealerships selling the Mercedes-Benz and Audi brands in the Chicago market in September 2025, according to the Presidio Group, which advised the sellers in the transaction.
“This acquisition is a natural next step for Fletcher Jones as we continue to invest in the markets where we have scale,” Keith May, president of Fletcher Jones Automotive Group, said in a release. “Adding Mercedes-Benz of Beverly Hills enhances our already-significant presence in Southern California.”
Fletcher Jones also owns dealerships in Nevada.
What they’re saying: The deal gave both buyer and seller an opportunity to manage their portfolios.
“After significant acquisitions expanding Group 1’s footprint and increasing our luxury presence in strategic locations, this sale allows us to further focus on our growth in our core markets,” Group 1 CEO Daryl Kenningham said in a release. “Mercedes-Benz of Beverly Hills has a proud legacy, and we’re confident Fletcher Jones will carry it forward.”
Bottom line: Presidio said five of its transactions so far this year involved portfolio management.
“As we’ve said for years, the largest and best dealership groups increasingly practice disciplined portfolio management, and this transaction is the latest proof,” said Alex Watterson, managing director at Presidio.
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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