Driving the news: Gilchrist Automotive purchased Team Gillman Chevrolet in Houston from Team Gillman and owner Chris Gillman in a deal that closed March 16.
For context: The buyers renamed the store Gilchrist Chevrolet.
Pinnacle Mergers & Acquisitions represented the sellers in the transaction.
Gilchrist owns more than 20 dealerships, mostly in Texas.
What they’re saying: Gilchrist owns several General Motors stores and is active and bullish with the brand, Mike Sims, president of Pinnacle, told CDG News.
“This was an opportunity for [Gilchrist] to get into metro Houston and grow their brand,” Sims said.
Bottom line: Sims said there aren’t a ton of stores that typically become available in red-state metro areas, making this a perfect opportunity for the buyer based on brand and location.
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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