Frank Mastrovito told a TV news station that he has now made good on a goal he shared with his parents as a kid: Owning multiple dealerships on Commercial Drive in Yorkville, New York.
Driving the news: With his namesake Mastrovito Auto Group, Mastrovito purchased a Chevrolet dealership from LeadCar in a February 19 deal.
For context: Mastrovito now owns two dealerships on Commercial Drive, including a Hyundai store about three minutes away from the new dealership.
The former LeadCar Chevrolet Yorkville was renamed Mastrovito Chevrolet.
Seth Dobbs, co-chair of Fox Rothschild’s national automotive practice, represented Mastrovito Auto Group in the transaction.
The Dave Cantin Group represented LeadCar.
What they’re saying: "...Looking at the strip, as we call it, Commercial Drive, since I was a little kid...when I was 12 years old, I always told my parents I would have dealerships on that road someday,” Mastrovito told a Channel 2 reporter in a February interview.
Bottom line: The divestiture was a portfolio management decision for the sellers, according to Jason Brickl, founder of Brickl Cos. and CEO of LeadCar Systems, Inc. He said in a statement that the sale “reflects a strategic refinement of our regional footprint in central New York, allowing us to focus our time, energy, and capital on the long-term growth of our remaining LeadCar Honda Yorkville and LeadCar GMC Utica locations in that market area…”
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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