Every buy-sell transaction brings its own details, background, and history.
“No two deals are alike,” I am often told.
Some represent the next chapters of a great family legacy, while others signal the ending of one, like when the last Fuccillo dealership sold in New York this June.
The sale came nearly five years to the day that original owner William Fuccillo Sr., known for his charisma and “huge” ad slogan, died on June 17, 2021, at age 65.
Other deals may showcase a growing group, like when Jenkins Auto Group expanded and acquired a Kia dealership in Cocoa, Florida.
Point being: While we continue to process spring and summer deals, we decided to recap 10+ deals, starting with the luxurious acquisition below.
West Coast luxury: indiGo Auto Group acquired San Francisco Exotic Cars in San Rafael, California, from Van Housen Automotive Group, owned by George Grinzewitsch. The dealership represents Lamborghini, Bentley, Maserati, Pagani, and Alfa Romeo; Van Housen retained Ferrari of San Francisco.
Great catch: KKS Automotive, owned by Kelvin Bratcher, Scott Lang, and NFL wide receiver Keenan Allen, acquired a Ford dealership in Virginia from Crossroads Automotive Group in a transaction that closed June 16.
"We come from very humble beginnings, but that also allows us to be very open and transparent about how we give back," Bratcher said. "Because we didn't get here by ourselves."
Other moves: Several deals included action from the publicly traded retailers.
AutoNation acquired Mercedes-Benz of Fremont (formerly Fletcher Jones Motorcars), Audi Fremont, and Porsche Fremont from Fletcher Jones Automotive Group, in a June 22 deal.
Group 1 Automotive acquired Stone Mountain Toyota and Stone Mountain Honda from Doherty Automotive Group. The June 30 closing came just weeks before Group 1 announced its agreement to acquire 10 dealerships from Hennessy Automotive Cos., in a deal estimated to be worth $1.3 billion.
And, Lithia Motors, Inc. sold Ferrari of Denver (seen below) to Jason Pittack of the Woodhouse Auto Family on May 28.
Jason Pittack of the Woodhouse Auto Family sold a Porsche store in April and bought Ferrari of Denver in Colorado. (Facebook photo)
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
Exotic acquisition: Hendrick Automotive Group acquired Foreign Cars Italia Charlotte and Foreign Cars Italia Greensboro in North Carolina from Paramount Automotive Group, owned by Benny Yount, on June 30.
Take in the lineup inside the Ferrari store showroom in Greensboro, North Carolina, and read what the company’s top man had to say below.
(Courtesy Hendrick Automotive Group)
"I've loved automobiles my whole life, and these are brands that many people dream about. Every one of them has its own personality, its own history, and its own following."
Another luxury haul: Ed Morse Automotive Group acquired Mercedes-Benz of Billings in Montana from DMN Holdings in a July 8 deal, three months and change after it bought its first Porsche dealership (from Pittack of the Woodhouse Auto Family, as noted above)
Check out the new dealership, plus words from the guy who runs it all.
(Courtesy Ed Morse Automotive Group)
"The only luxury nameplate that we've had in our company's history has been Cadillac… We were fortunate enough to add Porsche to our group just a few months ago, and now with the addition of Mercedes, we're truly becoming a group that sells everything... It's adding to the legacy that my grandfather built."
Scaling up: Below we’ve highlighted three transactions from growing groups.
Rookie season: We’re often told it’s the Age of Consolidation in the industry, and while there’s evidence of that, it doesn’t mean newcomers aren’t joining the scene.
That includes the new owners of the dealership shown below, followed by a snapshot of other deals secured by first-time owners.
Robert Palmese and Ahmed Fayed become first-time franchise owners with the purchase of this CDJR store in Philadelphia. (Facebook photo)
Country roads: Last but not least, Crown Auto Group on June 24 acquired a Subaru and Volkswagen store from longtime owner David Weaver in Wheeling, West Virginia. "Without them we would never have grown to be the store we are today…," Weaver said of his staff.
Looking ahead: Our sources say the buy-sell bustle shows no signs of slowing down.
Love to hear it.
But as a reminder… share all deals with us at [email protected], including the buyer, seller, old/new names, location, and closing date. We’re all ears for those who care to share more.
A quick word from our partner
The right inventory makes everything easier.
Every week, CarMax Auctions gives franchise and independent dealers access to thousands of vehicles — so you can stock your lot with the right cars for your customers.
Wide variety of years, makes, models, and miles
50+ locations nationwide with 100% online bidding
Upfront condition announcements
Free 7-day arbitration*
Register for free with no obligation.
*Restrictions apply. Visit carmaxauctions.com for details.
