Driving the news: Purdy Group USA purchased two dealerships from Douglass Automotive Group in a deal that closed Feb. 10.
For context: Acquired were Douglass Mazda and Douglass Volkswagen, both in Bryan, Texas. Purdy Group USA already owns a Toyota dealership in the city.
The purchase gives Purdy Group five dealerships in the United States, including another Toyota store in Huntsville, Texas, and a Hyundai dealership in Broken Arrow, Oklahoma.
The stores were renamed Purdy Mazda and Purdy Volkswagen.
Founded in 1957, the main group is headquartered in Costa Rica, though dealership operations are kept separate between the two countries, Purdy COO Harold Hurst told CDG News.
The group’s U.S. branch is headquartered in Rockwall, Texas.
What they’re saying: Hurst said the Bryan transactions fit perfectly because the group’s Toyota store is about a block away. Bryan and College Station, Texas, are twin cities, and the latter is home to Texas A&M University.
The group prefers medium to large, single-point markets.
“The metro markets don’t fit with our business model and the attention that we want to provide for our employees and the communities in which they live and work in,” Hurst said. “We want to give back to the communities…”
He said the group values people and aims to acquire stores with low turnover, so the staffers stay on.
Looking ahead: Purdy Group generally looks for opportunities in the southwest and seeks to grow to 15 dealerships by 2033, Hurst said.
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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