Driving the news: Adam Kraushaar of Lester Glenn Auto Group purchased Quality Chevrolet of Old Bridge in New Jersey from Jordan Wright in a deal that closed on January 13.
For context: The renamed Lester Glenn Chevrolet of Old Bridge marks the group’s third Chevrolet dealership.
Lester Glenn, a third-generation family-owned dealership group, now owns multiple dealerships in four New Jersey cities.
The acquisition helped kick off the group’s 70th anniversary year.
With this purchase, the group expands its footprint to fresh markets in New Jersey.
The advisory firm Dave Cantin Group facilitated the transaction.
What they’re saying: “Lester Glen took a very strategic approach of purchasing this asset, really learning and understanding how this fits into their already amazing portfolio of dealerships,” CEO Dave Cantin told CDG News. “And they see a huge opportunity for growth in that market and with that brand.”
Bottom line: Cantin says buyers, now more than ever, are being more smart and strategic with their acquisitions. And on the flip side, many sellers, especially those with long-standing community ties, are giving more scrutiny to who will take over their life’s work.
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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