Driving the news: Ken Ganley Automotive Group has acquired two Lexus dealerships in northeast Ohio from the Friedkin Group—the company's most expensive acquisition to date, according to CEO Ken Ganley.
For context: The group purchased Metro Lexus in Cleveland and Lexus of Akron-Canton on August 25, with Metro Lexus being renamed Lexus of Cleveland while the Akron store keeps its current name.
Ganley, who has been a Toyota dealer since 1995, told Automotive News that owning a Lexus dealership was a longtime dream and called the proximity to his headquarters in Broadview Heights a major factor.
The acquisition follows other purchases this year, including six stores from the Sarchione family in July.
Why it matters: Adding Lexus stores to Ken Ganley’s 60-dealership portfolio strengthens its position in Ohio's competitive market with strategic proximity to existing operations.
Bottom line: Regional dealership groups with deep local knowledge and patient capital are waiting for the right opportunities in their own backyards.
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