Driving the news: Sewell Automotive Companies has acquired Land Rover Boerne in Boerne, Texas, from Shottenkirk Automotive Group in a deal that closed November 17 and included the dealership's real estate, according to buy-side advisors at The Presidio Group.
For context: The acquisition gives Sewell its third dealership in the San Antonio market and its second Land Rover location, reinforcing the family-owned group's presence in the Texas luxury auto market.
Founded in 1911, Sewell represents 12 automotive manufacturer brands across 20 dealerships throughout Texas.
Shottenkirk Automotive Group, which operates 30 locations in 7 states, is shifting focus to other priorities within its portfolio.
What they're saying: "The sale of Land Rover Boerne is a strategic decision as we focus on other priorities within our portfolio," said Greg Shottenkirk, president of Shottenkirk Automotive Group. "We are confident the store and its employees have a great future with the Sewell organization."
Greg Shottenkirk
Shottenkirk Automotive Group
Bottom line: The deal highlights continued acquisition interest in the Texas market, which Presidio president George Karolis described as "one of the best performing and most desirable in the country." Adam Lawyer and Jeff Hamilton provided legal counsel for Sewell, while George Taylor III of Burr & Foreman LLP represented Shottenkirk.
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