Driving the news: Jenkins Auto Group acquired a Kia dealership and its real estate from Jackson Automotive Group in a deal that closed May 18.
For context: Jenkins Auto purchased Jackson Kia in Cocoa, Florida, on the eastern coast of the state’s central region.
The store was renamed Jenkins Kia of Cocoa.
This was a strategic divestiture for Jackson, according to The Presidio Group, which represented the sellers.
What they’re saying: The acquisition was also strategic for Jenkins Auto, especially because the group recently purchased a nearby Honda dealership to expand its footprint in the region, according to Presidio.
Don Jenkins, principal of Jenkins Auto, of Ocala, Florida, said in a release that the two acquisitions offered a rare combination of brand, location, and growth potential.
“Adding Jackson Kia in Cocoa is a natural next step for our expanding group and deepens our commitment to customers on Florida’s Space Coast…,” Jenkins said.
Bottom line: Presidio President George Karolis said in a release that strong assets in attractive markets move quickly, and that portfolio management continues as a theme in the buy-sell market.
“Jackson Automotive Group is practicing tried-and-true portfolio management by realigning its footprint around its core Georgia markets while staying open to a brand it strongly believes in,” Karolis said.
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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