4 vehicle suppliers expanded their dealership portfolios with fourth-quarter acquisitions throughout 4 states.
Here is a search at discounts involving domestic and luxurious brand names and dealerships in Montana, Missouri, New Jersey and Michigan. Just one transaction concerned an car retailer ranked on Automotive Information‘ list of the leading 150 dealership groups.
Germain Automotive expands into Montana
Germain Automotive Group, of Columbus, Ohio, has entered Montana with the acquisition of a multibranded domestic dealership.
The team on Nov. 8 purchased Snowy Mountain Motors, a Chrysler-Dodge-Jeep-Ram-Chevrolet-Ford dealership in Lewistown from Tony Pierce of T.M. Pierce Inc., in accordance to John Malishenko, COO of Germain Automotive.
Tony Pierce was a nominee for the 2022 Time Seller of the Yr award.
Lewistown is in the centre of the condition. Malishenko explained Germain CEO Steve Germain and his family have a residence and a resort in the place.
“The acquisition was an extension of that,” he wrote in an email to Automotive News.
Malishenko verified that this was the group’s very first acquisition given that Germain Automotive entered Arizona in the tumble of 2021, purchasing Shock Honda, northwest of Phoenix. The retailer also has dealerships in Ohio, Michigan and Florida.
Germain Automotive ranks No. 75 on Automotive News’ most new listing of the prime 150 dealership groups primarily based in the U.S., retailing 13,332 new cars in 2021.
Leta and grandsons broaden in Missouri
The grandfather and grandsons workforce of Frank Leta Vehicle Team expanded in Missouri with the acquire of VanMatre Buick-GMC in Cape Girardeau.
Frank Leta and his grandsons Michael Brown and Steve Brown on Nov. 14 purchased the retailer from Mark VanMatre and renamed it Frank Leta Buick-GMC.
Hoping to diversify with a domestic model, Steve Brown, functions supervisor, told Automotive Information that they procured the southern Missouri store mainly due to the fact of its site.
Cape Girardeau is “a fantastic current market,” he said, “and a hub town for several other neighboring cities.”
Frank Leta Car, of St. Louis, owns four other retailers in Missouri, including its next-most new buy, Acura of Springfield, which it obtained in 2020. The team also sells Honda and Mitsubishi motor vehicles.
It has no discounts pending, but it would be intrigued in obtaining retailers in the future “if the correct opportunity arrived up,” Steve Brown said.
Steve Brown explained the team at the Cape Girardeau dealership was managed and there are no strategies to make facility alterations.
Mark Shackelford and Paul Kechnie, partners representing Midwest and Texas areas for acquire-provide company Overall performance Brokerage Solutions, of Irvine, Calif., facilitated the transaction.
Piazza Auto adds Mercedes-Benz keep
Piazza Automobile Team reported it obtained Mercedes-Benz of Atlantic Metropolis in Egg Harbor Township, N.J., adding one more retailer of the luxurious brand name to its portfolio, in accordance to a LinkedIn article from a team executive.
Tony Piazza, director of functions, declared the acquire Nov. 1 on LinkedIn.
The dealership was owned by Michael Sloane of Park Avenue Motor Autos Atlantic Town, according to a New Jersey Motor Auto Fee new-automobile vendor renewal application in 2022.
Sloane explained to Automotive News that the offer closed Nov. 1.
Piazza also has Mercedes-Benz dealerships in West Chester, Pa., and Wilmington, Del., in accordance to its internet site.
Sloane confirmed to Automotive News that he also marketed the West Chester dealership to Piazza in December 2021. Sloane even now owns a Mercedes-Benz dealership in Fort Washington, Pa.
Lunghamer buys Ford dealership in Michigan
A Michigan motor vehicle seller has expanded his group with the obtain of a Ford dealership on Oct. 31 and has converted an additional Ford shop into a made use of-car sales and company locale.
Joe Lunghamer, president of Lunghamer Auto Group, bought Signature Auto Group in Owosso, Mich., from Joe Falzon and his daughter Angela Pascotto.
Falzon and Pascotto also owned Signature Ford in Perry, Mich. Owosso and Perry are about 13 miles apart.
Falzon explained to Automotive News that “Ford arrived in in the course of the sale and worked with [Lunghamer] on an present” to consolidate the retailers. A Ford spokeswoman declined to comment.
Lunghamer renamed the dealership Lunghamer Ford of Owosso and the made use of-motor vehicle store Lunghamer Auto of Perry.
The acquisition provides the Lunghamer team to 3 new-car or truck Michigan dealerships. It also owns Joe Lunghamer Chevrolet and Lunghamer Buick-GMC, each in Waterford.
Joe Lunghamer also owns Flagship Ford in Baldwin, Wis., and Flagship Chevrolet-Buick in Zumbrota, Minn., operated by his business enterprise associate, John Buelow.
Pascotto was honored amid Automotive News’ 40 under 40 in 2012, and Falzon retired at the summary of the sale.
“I’ve been in the car or truck organization 51 years,” Falzon stated. “If I didn’t retire now, I in all probability by no means would.”
Signature Car offered its Owosso Lincoln dealership in 2021 to LaFontaine Automotive Team, which temporarily moved the Lincoln franchise to its Ford keep in nearby Flushing, Mich.
Lunghamer mentioned any upcoming dealership buys would be identified by circumstance and chance.
“I have been doing this considering the fact that 1987. My window is continue to open. But at some place, it will close,” he mentioned. “It can be a big food to obtain a dealership. I might like to digest for a tiny although.”
The Signature sale was facilitated by Kechnie of Overall performance Brokerage Expert services.