Driving the news: Sandy Sansing Automotive, which owns dealerships in Alabama and Florida, acquired its second BMW dealership from Carlock Automotive in a deal that closed January 12.
For context: Sandy Sansing Automotive’s purchase of BMW of Tuscaloosa expands its footprint in Alabama overall while allowing it to enter the growing college town home to the University of Alabama.
Gerrick Wilkins, CEO of Omega Advisors, Inc., said Carlock Automotive remains in growth mode and that they made the strategic divestiture because the store wasn’t a fit right now. Omega represented the sellers.
Of course in this deal, both brand and location added to its appeal, especially because there’s only about 350-370 BMW dealerships in the country.
What they’re saying: “It's one of the most desirable brands out there…,” Wilkins told CDG News. “There's not many of them, which makes it very valuable when they do transact.”
Bottom line: Premium brands, especially hard-to-get ones like BMW, continue to appeal to buyers and attract M&A activity. And, the southern United States, remains a sought-after destination in this bustling marketplace.
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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