Driving the news: Robert Palmese and Ahmed Fayed bought their first franchised dealership from the Greenblatt family in a deal that closed May 5.
For context: Under the name PalmEasy Motors, Palmese will be dealer principal, and Fayed will be managing partner at the former Matt Blatt Chrysler, Dodge, Jeep, Ram in Philadelphia.
The dealership was renamed Liberty Chrysler, Dodge, Jeep, Ram.
Matt Wilkins, Jacob Stoehr, and Gershon Rosenzweig of Performance Brokerage Services represented the sellers.
Frank O'Donnell and Tim Duffy of Biltmore Automotive Services represented the buyers.
The Greenblatt family continues to operate dealerships in the region.
What they’re saying: The theme of portfolio management continues.
“For the Greenblatt family, this was a strategic decision to concentrate on their other franchises and the areas of their business where they see the greatest opportunity ahead,” Stoehr said.
Bottom line: He also added that the timing of the transaction “reflects the CDJR market being at an inflection point.”
“For operators who believe in the product and are willing to put in the work, this is an opportune time to enter,” Stoehr said. “Rob and Ahmed are exactly [those kinds] of operators, and the Philadelphia market is well-positioned to benefit as consumer confidence in the brand continues to rebuild.”
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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