Driving the news: Wisconsin-based Home Run Auto Group has acquired five dealerships in Ottawa, Illinois, from Bill Walsh Automotive in a deal that closed December 15, then sold two of the stores to former employees just weeks later.
For context: Home Run purchased Bill Walsh Ford/Kia, Bill Walsh Honda, Bill Walsh Toyota, Bill Walsh Chevrolet GMC, and Sierra Motors. The group kept three stores (rebranding them as Ottawa Ford/Kia, Ottawa Honda, and Ottawa Toyota) and quickly sold the others.
Bill Walsh Chevrolet GMC and Sierra Motors were sold to Joe Hamblock and Sean Sivore, according to Shaw Local Radio.
The stores will be rebranded as Hamblock Chevrolet GMC and Ottawa Chrysler Dodge Jeep Ram and Ottawa Mazda.
Home Run Auto Group now operates nine dealerships.
What they're saying: “Our growth strategy has always been centered on people-our team members, our customers, our communities we serve. This acquisition aligns perfectly with our mission to deliver outstanding service, modern facilities and expanded opportunities for both customers and employees,” said Mark Geiger, co-owner of Home Run Auto Group.
Bottom line: Multi-store portfolio sales are creating opportunities for smaller operator-owners to acquire stores when larger groups pick through what they want and divest the rest.
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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