Driving the news: Pierce Automotive Group bought a pair of Lexus dealerships near San Diego, California, from Halo Motor Group, in a deal that closed January 14.
For context: Lexus Carlsbad and Lexus Escondido became well-established in North San Diego Country under Halo Motor, founded in 1972 by Lou Jones, according to its website.
Mitch Pierce, president of Pierce Automotive, said Jones-Cone’s “influence remains deeply woven into the way we approach our business."
Both store names will remain and no immediate leadership or staffing changes were planned.
The acquisition helped fuel the creation of Pierce Automotive. Pierce also remains a partner with the namesake John Elway Dealership Group, owned with the hall-of-fame quarterback.
What they’re saying: “This is a long-term commitment where our priority is continuity for employees and customers, and delivering an exceptional Lexus ownership experience from day one,” Pierce said in a statement.
Bottom line: Lexus remains a lucrative, sought-after franchise. And stepping into two luxury places cemented on a foundation that underlines that premium customer experience is a nice catch.
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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