The Presidio Group was honored to exclusively advise MileOne Autogroup, of Towson, Md., on the sale of Hall Honda Huntersville of Huntersville, N.C., outside of Charlotte, N.C., to Hudson Automotive Group in a deal that closed Aug. 26. The store, which had been MileOne’s only holding in the Charlotte market, is located just 2,000 feet away from a Toyota dealership that Hudson Automotive purchased five months ago. The acquisition gives Hudson its 10th store representing the Honda brand. The Presidio team congratulates the MileOne and Hudson organizations on the successful deal. “One of our most gratifying roles is when we can help dealers finetune their portfolios,” said George Karolis, president of The Presidio Group. “It has been a privilege to support the MileOne organization in completing this transaction.” Read more about the deal here: https://lnkd.in/etq76zHM #DealershipBuySell #MileOneAutogroup #HudsonAutomotiveGroup
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United States • Group 1 Automotive expands presence in Baltimore-Washington market with acquisition of RRR Automotive Group. February 13, 2024 HOUSTON Tx, LG This acquisition encompasses five new-car dealerships representing renowned brands such as Toyota, Honda, Hyundai, and Kia along with a Toyota certified pre-owned center and three collision centers, consolidating Group 1's position as a formidable force in the automotive industry. Of particular note are the Honda stores included in the deal – Honda of Owings Mills and Honda of Greenbelt – recognized as the top two volume dealerships for the Honda brand in Maryland. With this acquisition, Group 1 anticipates the newly acquired locations to contribute more than $500 million in annual revenues, underlining the lucrative potential of this strategic investment. Operating from its headquarters in Houston, Group 1 Automotive manages an extensive network of 198 dealerships across the United States and the United Kingdom. The acquisition of the RRR Automotive Group marks a significant milestone in the company's growth trajectory, further solidifying its position as a key player in the automotive retail landscape. Commenting on the acquisition, Daryl Kenningham, President and CEO of Group 1, expressed enthusiasm about the addition of these prestigious brands to the company's portfolio. Kenningham stated, "These dealerships are some of the best brands in our portfolio, and we are very proud to grow our relationship with Toyota, Honda, Kia, and Hyundai. We believe that this acquisition presents an opportunity to further drive profitable growth for our stockholders, leveraging our proven operational expertise and acquisition integration capabilities." In alignment with its strategic vision, Group 1 also announced the divestment of 10 franchises and a collision center in Beaumont, Texas, during the first quarter of 2024. #group1 #dealership #automotive #acquisition #geschäftsführung #strategy #management
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Lithia Motors closes on Pohlad's 9-store, $900M Carousel group in Midwest. Lithia Motors has bought dealerships expected to generate more than $5.4 billion in annual revenue this year. The acquisition on the heels of Lithia's Jan. 31 purchase of Pendragon, a U.K. auto retailer, means Lithia has added more than $5.4 billion in annual revenue this year, before the end of the first quarter. Lithia Tuesday said it used its existing liquidity to buy Carousel Motor from the Pohlad Cos. conglomerate, whose portfolio also includes the Minnesota Twins baseball team. The closing date wasn't immediately available. The acquisition gives Lithia one location in Wisconsin and eight stores in Minnesota, a state where the nation's No. 1 auto retailer had no locations. Lithia CEO Bryan DeBoer told Automotive News in 2021 that Minneapolis was among the markets it was looking at Read the full story: https://lnkd.in/eFm-kpee
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Lithia Motors expands into North Florida, adding $200 million in revenue Acquiring these dealerships solidifies Lithia Motors' position as a dominant U.S. auto retail market player. Lithia Motors has expanded its U.S. dealership portfolio by entering the North Florida market by acquiring three dealerships expected to generate more than $200 million in annual revenue. On September 9, Lithia acquired Duval Honda and Duval Acura, located in Jacksonville and Subaru of Gainesville, from Duval Motor Co. The purchase marks Lithia’s first foray into this fast-growing region. Bryan DeBoer, the CEO of Lithia Motors, is thrilled about the expansion. He stated that the award-winning dealerships have a great customer service and community engagement legacy, aligning with their growth strategy. Lithia plans to keep the dealership names to maintain continuity and uphold its local reputation. The deal was managed by Kevin Nill, managing director of Haig Partners, a buy-sell advisory firm in Fort Lauderdale, with the help of associate Matt DeSantis. Nill highlighted North Florida’s appeal as a rapidly growing market with lighter congestion than other parts of the state. He emphasised the ongoing demand for solid and desirable franchises in hot markets despite the broader market’s financial performance slowdown. Top brands in sought-after locations continue to attract interest from buyers like Lithia. The acquisitions also reflect Lithia’s aggressive growth strategy as the company continues to expand its national footprint. With the Duval acquisitions, Lithia’s expected annualized revenue from acquisitions in 2024 now totals $5.9 billion. For Duval Motor Co., this sale allows the family-owned business, led by CEO Hampton Graham and President Alex Graham, to focus on its flagship store, Duval Ford, in Jacksonville. “Duval Ford will continue to carry on the incredible legacy created by the McRae family,” Hampton Graham said, referencing the company’s deep roots in Jacksonville, where the family has been operating since 1921. The acquisition of these award-winning dealerships solidifies Lithia Motors’ position as a dominant player in the U.S. auto retail market and further expands its reach into key growth regions. Source: cbtnews #LithiaMotors #DealerGroup #dealership #Honda #Acura #Subaru
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USA, Louisiana Price LeBlanc expands with purchase of Toyota dealership in Opelousas By Holly Duchmann Baton Rouge-based Price LeBlanc Automotive has expanded outside the Capital Region with the acquisition of Courvelle Toyota in Opelousas, roughly 20 miles north of Lafayette. Dealer Brent LeBlanc says the automotive group has been considering an Acadiana expansion for several years. The group reached out to Courvelle last year and began negotiating the purchase in the fall. The deal became effective Jan. 8. “It’s a trusted brand we were familiar with,” LeBlanc says. “We’re the oldest Toyota dealer in the state and they’re the second oldest in the state.” The acquisition grows the group’s footprint to four stores. Price LeBlanc Automotive maintains Lexus and Toyota dealerships on Airline Highway in Baton Rouge and a Nissan dealership in Gonzales. Financial details of the deal were not disclosed. No staffing changes are expected at the Opelousas location at this time, according to LeBlanc. While the group does not have any other deals for acquisitions it is actively pursuing, LeBlanc says he plans to continue to expand in Louisiana. https://lnkd.in/eeQzaXrs #automotive #retail #toyota
Price LeBlanc expands with purchase of Toyota dealership in Opelousas
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David Kendrick, UHY’s head of automotive, shines a light on the 2023 automotive transactions market and offers his industry predictions for the next twelve months. Read David's latest insight into the current and prospective automotive M&A market below 👇 #automotive #mergersandacquisitions
The current and prospective automotive transactions market
uhy-uk.com
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Lithia's next business deal after taking over Pendragon in the UK; ■ Pohlad's Carousel group quired by Lithia Motors■ Lithia Motors closes on Pohlad's 9-store, $900M Carousel group in Midwest the dealer group, known as Lithia & Driveway, has bought dealerships expected to generate more than $5.4 billion annually in revenue this year. February 28, 2024, JOHN HUETTER Automotive News Lithia Motors Inc. has acquired Carousel Motor Group, a nine-store operation in the Midwest, which Lithia estimates will add $900 million in annual revenue. Pohlad Cos. Hudson Ford in Wisconsin is a Carousel Auto Group store slated to be sold to Lithia Motors Inc. ARI, SK note: Lithia Motors, Inc. is an American nationwide automotive dealership group headquartered in Medford, Oregon. It is the third largest new vehicle automotive dealership group in the United States, below AutoNation and Penske Automotive Group. Lithia operates 291 stores in the United States, 14 stores in Canada and 40 in the United Kingdom. As of May 2022, Lithia operates 267 stores in 24 states and 14 in Canada. Lithia Motors employs approximately 21,150 people. Within our industry, Lithia's UK Pendragon deal made headlines worldwide #Lithia #automotive #retail #dealership #lithia&Driveway Source https://lnkd.in/dD66r3dr
Lithia Motors closes on Pohlad's 9-store, $900M Carousel group in Midwest
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Lithia's next business deal after taking over Pendragon in the UK; ■ Pohlad's Carousel group quired by Lithia Motors■ Lithia Motors closes on Pohlad's 9-store, $900M Carousel group in Midwest the dealer group, known as Lithia & Driveway, has bought dealerships expected to generate more than $5.4 billion annually in revenue this year. February 28, 2024, JOHN HUETTER Automotive News Lithia Motors Inc. has acquired Carousel Motor Group, a nine-store operation in the Midwest, which Lithia estimates will add $900 million in annual revenue. Pohlad Cos. Hudson Ford in Wisconsin is a Carousel Auto Group store slated to be sold to Lithia Motors Inc. ARI, SK note: Lithia Motors, Inc. is an American nationwide automotive dealership group headquartered in Medford, Oregon. It is the third largest new vehicle automotive dealership group in the United States, below AutoNation and Penske Automotive Group. Lithia operates 291 stores in the United States, 14 stores in Canada and 40 in the United Kingdom. As of May 2022, Lithia operates 267 stores in 24 states and 14 in Canada. Lithia Motors employs approximately 21,150 people. Within our industry, Lithia's UK Pendragon deal made headlines worldwide #Lithia #automotive #retail #dealership #lithia&Driveway Source https://lnkd.in/dD66r3dr See translation
Lithia Motors closes on Pohlad's 9-store, $900M Carousel group in Midwest
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■ Australian listed vehicle retailer Peter Warren Automotive (PWR) has continued its expansion by acquiring four dealerships in Campbelltown and New South Wales, in a $27 million deal from car dealer Greg Oakman. The newly acquired dealerships include Macarthur Mazda, MG, Nissan, and LDV, all situated on Mill Road in Campbelltown. Mark Weaver, CEO of PWR, highlighted the significance of the deal, stating that it adds four top 20 brands to PWR's already established presence in Western Sydney. He emphasized the geographical and operational advantages this acquisition brings and praised the acquired business for its alignment with PWR's team culture. "We are pleased to welcome the new team members to Peter Warren, ensuring continuity of service to customers and OEM partners. We express our gratitude to Greg Oakman and wish him the best," said Weaver. "Looking ahead, these new brands provide a foundation for further acquisitions and diversification of our revenue across all automotive market segments." The $27 million consideration, inclusive of net assets, will be financed through a combination of cash and debt. Weaver noted that the acquisition is expected to immediately benefit earnings per share (EPS). The businesses acquired generate a turnover of $140 million and employ approximately 80 individuals. Weaver also mentioned that the transaction is subject to OEM approvals and is anticipated to be finalized in the coming months. Operational management will largely remain unchanged, with Mazda being the exception, requiring the brand's dealer principal to hold a minority shareholding. This acquisition marks PWR's third major dealership purchase following its acquisition of 10 dealerships from Penfolds in November 2021, which marked its entry into Victoria. Last year, PWR also acquired an 80% share in a Toyota dealership in Warwick Farm and 95% stakes in Toyota and Volkswagen dealerships in Bathurst for $45 million. In 2021, the three acquired dealerships generated a combined turnover of $180 million and employed approximately 110 individuals. PWR now operates across the eastern seaboard under various names, including Peter Warren Automotive, Frizelle Sunshine Automotive, Sydney North Shore Automotive, Mercedes‐Benz North Shore, Macarthur Automotive, Penfold Motor Group, Bathurst Toyota and Volkswagen and Euro Collision Centre. #peterwarrenautomotive #dealership #acquisition #strategy #australia #leadership #mazda #MG #nissan #LDV #vertrieb #geschäftsführung https://lnkd.in/emBDSCtZ
Peter Warren adds four dealerships
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Beneficial electrification consultant and host of Electrek's Quick Charge and The Heavy Equipment Podcast. All opinions are my own.
If this dealer group had an instance of Treasure Data in place, ingesting all the data from those 30 new stores would be seamless, and they'd be able to instantly identify new and existing customers and gain mountains of new insight, for a more true, 360-degree understanding of who their new customers are. If you're in the #carbusiness and looking to acquire, or be acquired, take notes to see how this goes! #customerdataplatform #cdp #marketing #businessefficiency #dataefficiency #customerjourney #martech
BREAKING: Holman Auto is buying all of North Carolina-based Leith Auto Group. MASSIVE deal—30 dealerships involved. Exact transaction price is unknown ATM—But likely several big billies $$$ Dealership acquisition space is showing no signs of slowing down in this market. Congrats to all parties involved! (Employees were notified today)
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2moCongrats team!