Driving the news: Ethan Lee of Lumos Auto Group bought his second dealership from Bill Bird in a deal that closed August 19.
For context: Lumos acquired Acura of the Rio Grande Valley in San Juan, Texas, near the Mexican border, or “the Valley,” as locals may call it.
He renamed the store Lumos Acura.
Bird will retain a Jaguar-Land Rover store in the market, according to Mike Sims, president of Pinnacle Mergers & Acquisitions.
Pinnacle Mergers & Acquisitions represented the sellers.
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What they’re saying: "As a family-owned business, we are excited to bring our family's passion for automotive excellence and community service to the Rio Grande Valley," Less said in a release. "We look forward to building lasting relationships with our customers built on trust and respect while treating every customer like family.
Strategic note: Sims told CDG News that the acquisition works well for Lee, who is an existing Honda dealer.
“It's good to maintain the familiarity with the brand,” Sims said. “So great an opportunity for him in a great market with a beautiful facility.”
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by Presidio.
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