Driving the news: Joe Ghaben of Ghaben Auto Group acquired a Genesis dealership in Glenview, Illinois, in a deal that closed on July 30.
For context: The seller was not disclosed by parties reporting the deal.
According to online-only media outlet Glenview Daily, Napleton Auto Group, of Rosemont, Illinois, is the former owner.
Napleton’s website still has the dealership listed under Genesis locations.
Ghaben relocated the dealership about three miles northwest to a former Harley-Davidson dealership site, and it will keep the same name.
Performance Brokerage Services represented the sellers.
What they’re saying: Matt Willis, of Performance Brokerage Services, told CDG News that relocating a franchise point and opening a new one from scratch isn't simple.
The buyer had to secure Genesis's approval for an entirely new facility before the deal could close. The dealership is open now, with some work to be finished.
"It definitely takes a good buyer and good seller to cooperate with all the challenges that took place," Willis said. “I think it’s going to be one of the nicest Genesis stores in the country when it's all completed."
Strategic note: The acquisition marks a third dealership for Ghaben Auto Group, which also owns Volkswagen of Oak Lawn and Volkswagen of Orland Park, both in Illinois.
"[Ghaben] is definitely still in expansion mode," Willis said, adding that he likes the Glenview territory and it’s an area Ghaben would like to expand in.
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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