Driving the news: Kurt Koch of Koch Automotive Group bought his first Honda dealership from the estate of Mike Patel and Jeff Christoffel in a deal that closed March 2. Patel died unexpectedly in February.
For context: Koch acquired Marin Honda in San Rafael, California, southwest of Sacramento.
This is the group’s first Honda dealership and its first in the West Coast state.
The name will remain, according to Ozog Consulting, which represented the sellers.
Koch Automotive owns nine dealerships in three states.
Worth noting: Koch tried to purchase a Honda dealership about five years ago, but the manufacturer exercised its right of first refusal (ROFR) and rejected his bid.
At the time, he had only a third of the stores he owns now, Mike Murphy of Ozog Consulting told CDG News.
Koch built a significantly stronger portfolio after that, including three Toyota dealerships that have all received president’s awards since he acquired ownership, according to Murphy.
What they’re saying: He said Koch also stayed on good terms with the manufacturer after that first attempt to buy a Honda store, according to Murphy.
“He maintained a very respectful, professional relationship with them over the years,” Murphy said. “When he came back to the table with them, he had their ear and their attention.”
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:
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
