Driving the news: Kedge Cook purchased Martin Chrysler Dodge Jeep Ram in Cleveland, Texas, from Brian Bounds in a deal that closed January 12.
For context: The store was renamed Cook Chrysler Dodge Jeep Ram.
Cook now owns two dealerships, including Cook Ford in Texas City.
This was Bounds’ first sale since 2016, when he sold two, according to Performance Brokerage Services, which facilitated the transaction.
What they’re saying: Jamie Farley, of Performance Brokerage Services, told CDG News over text that buying a Stellantis store right now can be a smart move for some.
“When a manufacturer is in a regrouping phase, values tend to be more reasonable, which can translate into a stronger return for the right operator,” Farley said.
Bottom line: One person’s sunk dealership is another’s affordable path to ownership and/or growth. “If you believe in the long-term strength of the brand, this is often when you want to step in, not when everything feels easy,” Farley 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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