Driving the news: Ourisman Automotive Group has acquired Hendrick Honda Woodbridge in Virginia, from Hendrick Automotive Group in a transaction that closed October 21, according to deal advisors at The Presidio Group.
For context: With the addition of the Honda store, Ourisman now operates three dealerships in Woodbridge, including a Toyota point and a Chrysler Dodge Jeep Ram location.
Hendrick Automotive Group, the nation's largest privately owned dealership group, now operates a network of 95 dealerships.
What they’re saying: “This was a strategic decision for our organization,” said Jeffrey “JB” Brown, president of Hendrick Automotive Group. “While we continue to have a deep relationship with Honda and are grateful for the success we enjoyed in the community, this was our only store in the Woodbridge market, and we saw an opportunity to reallocate resources where we have a stronger presence.”
Jeffrey “JB” Brown
Big picture: For Ourisman, the acquisition tightens its Northern Virginia footprint and creates a three-brand retail hub in Woodbridge. And for Hendrick, it’s a clean, strategic redeployment of capital toward higher-density markets.
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