Sheehy Auto Stores acquires 2 MD dealerships, Fred Beans expands in PA

As dealers continue to enjoy profits well above pre-pandemic levels, more dealership shuffling is taking place this fall with a large number of transactions happening up and down the East Coast. Here are five transactions from Oct. and Nov. worth noting.

1. Sheehy Auto Stores, Victory Automotive Group snag mid-Atlantic dealerships

Toyota and Lexus stores, with their strong brand loyalty and reliable demand, are continuing to be sought-after acquisitions, reports buy/sell advisory firm Haig Partners. On Nov. 18, Haig facilitated two separate transactions – each one involving Toyota stores. Bill Kidd’s Timonium Toyota and Bill Kidd’s Volvo Cars located in Maryland sold to Sheehy Auto Stores after over 60 years in business. 

Additionally, Ball Toyota and Advantage Toyota out of West Virginia sold to Victory Automotive Group, which scooped up another Toyota store in Missouri just one month prior. Victory Automotive Group now has well over 50 dealerships under its umbrella. 

2. Texas-based Cowboy Toyota sells to Norm Reeves

Cowboy Toyota, previously owned by Ron Schwartz, Bob Cannon, the Bohn Brothers and Tobias Fulton for the last 18 years, is located in Dallas County, one of the fastest-growing populations in the country. The buyer, The CAR Group, owned by the Conant family, operates a network of high-performing, award-winning automotive franchises under the "Norm Reeves" brand. With over 16 franchises, Norm Reeves spans Southern California, North Texas, and Western Florida. 

“This was a unique opportunity for the right buyer to acquire the most sought-after brand in one of the nation’s highest growth markets. The sale of Cowboy Toyota highlights the continued strength of the Texas market, and Toyota’s leadership within it,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors, the transaction’s advisor.

3. Fred Beans Automotive Group expands in Mechanicsburg, PA

Fred Beans Automotive Group has acquired three dealerships and a body shop from Freysinger Automotive, effective Oct. 28. The deal includes GMC/Buick, Hyundai, and Mazda dealerships, with Freysinger’s Body Shop rebranded as CARSTAR Fred Beans New Cumberland.

The acquisition unites two family-run businesses with deep roots in the community. Freysinger Automotive, founded in 1924, was led by brothers Garry and Tom Freysinger, who saw Fred Beans as the ideal successor. Fred Beans now operates 30 dealerships representing 21 brands, eight CARSTAR centers, and more. 

“Our growth means an even bigger selection of vehicles for our Fred Beans customers,” said Beth Beans Gilbert, who now serves as the dealer principal of the acquired dealerships.

4. Sutherlin Automotive exits FL market.

Sutherlin Nissan of Vero Beach has been sold to Andy Unanue and renamed Nissan of Vero Beach. This marks the Sutherlin Automotive Group’s final divestiture of its Florida stores, following the sale of three dealerships in August. Brett Sutherlin, CEO, emphasized the move supports the company’s diversification strategy. 

"As much as I love the Vero market, this transaction made sense for us to further diversify our brand mix as a company in growth mode," said Sutherlin. 

The Alabama-based group, founded by Brett’s father, George, over 50 years ago, continues to operate in Montgomery, AL, and Kingston, TN.

5. Tasca Automotive Group is on a growth streak.

Tasca Automotive Group has expanded into New York, New Jersey, and Massachusetts, with five new acquisitions this year. The group, based in Cranston, R.I., entered the New Jersey market for the first time and also added Audi and Toyota to its growing brand lineup.

On top of that, in Nov., the group purchased Mohegan Lake Volkswagen and Audi Mohegan Lake in New York. In Sept., they acquired Expressway Toyota in Boston, now Tasca Toyota Boston. And earlier in the year, Tasca added Yonkers Kia and Audi Meadowlands.

These additions bring Tasca closer to its target of 45,000 annual vehicle sales, with even more acquisitions planned for 2025.

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