4 vehicle stores expanded their dealership portfolios with fourth-quarter acquisitions throughout 4 states.
Here’s a appear at promotions involving domestic and luxury brand names and dealerships in Montana, Missouri, New Jersey and Michigan. A single transaction involved an auto retailer rated on Automotive Information‘ checklist of the top rated 150 dealership teams.
Germain Automotive expands into Montana
Germain Automotive Team, of Columbus, Ohio, has entered Montana with the acquisition of a multibranded domestic dealership.
The group on Nov. 8 bought Snowy Mountain Motors, a Chrysler-Dodge-Jeep-Ram-Chevrolet-Ford dealership in Lewistown from Tony Pierce of T.M. Pierce Inc., according to John Malishenko, COO of Germain Automotive.
Tony Pierce was a nominee for the 2022 Time Seller of the Year award.
Lewistown is in the center of the condition. Malishenko stated Germain CEO Steve Germain and his family have a dwelling and a hotel in the location.
“The acquisition was an extension of that,” he wrote in an email to Automotive Information.
Malishenko verified that this was the group’s initial acquisition considering that Germain Automotive entered Arizona in the fall of 2021, obtaining Surprise Honda, northwest of Phoenix. The retailer also has dealerships in Ohio, Michigan and Florida.
Germain Automotive ranks No. 75 on Automotive News’ most modern list of the top rated 150 dealership teams centered in the U.S., retailing 13,332 new motor vehicles in 2021.
Leta and grandsons expand in Missouri
The grandfather and grandsons group of Frank Leta Car Team expanded in Missouri with the invest in of VanMatre Buick-GMC in Cape Girardeau.
Frank Leta and his grandsons Michael Brown and Steve Brown on Nov. 14 procured the retail store from Mark VanMatre and renamed it Frank Leta Buick-GMC.
Hoping to diversify with a domestic brand, Steve Brown, functions manager, told Automotive Information that they purchased the southern Missouri keep largely for the reason that of its locale.
Cape Girardeau is “a excellent industry,” he claimed, “and a hub town for lots of other neighboring metropolitan areas.”
Frank Leta Auto, of St. Louis, owns 4 other shops in Missouri, together with its 2nd-most recent obtain, Acura of Springfield, which it acquired in 2020. The team also sells Honda and Mitsubishi autos.
It has no deals pending, but it would be fascinated in getting merchants in the long term “if the proper opportunity arrived up,” Steve Brown stated.
Steve Brown mentioned the staff members at the Cape Girardeau dealership was managed and there are no programs to make facility adjustments.
Mark Shackelford and Paul Kechnie, partners representing Midwest and Texas locations for obtain-offer business Effectiveness Brokerage Solutions, of Irvine, Calif., facilitated the transaction.
Piazza Car adds Mercedes-Benz retail outlet
Piazza Car Team explained it obtained Mercedes-Benz of Atlantic City in Egg Harbor Township, N.J., including yet another keep of the luxury manufacturer to its portfolio, according to a LinkedIn submit from a team govt.
Tony Piazza, director of functions, announced the invest in Nov. 1 on LinkedIn.
The dealership was owned by Michael Sloane of Park Avenue Motor Automobiles Atlantic City, in accordance to a New Jersey Motor Auto Fee new-car vendor renewal application in 2022.
Sloane explained to Automotive Information that the deal shut Nov. 1.
Piazza also has Mercedes-Benz dealerships in West Chester, Pa., and Wilmington, Del., according to its internet site.
Sloane confirmed to Automotive Information that he also bought the West Chester dealership to Piazza in December 2021. Sloane however owns a Mercedes-Benz dealership in Fort Washington, Pa.
Lunghamer purchases Ford dealership in Michigan
A Michigan auto seller has expanded his group with the invest in of a Ford dealership on Oct. 31 and has transformed an additional Ford retail outlet into a made use of-automobile product sales and provider place.
Joe Lunghamer, president of Lunghamer Car Group, obtained Signature Automobile 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 aside.
Falzon advised Automotive Information that “Ford arrived in in the course of the sale and worked with [Lunghamer] on an offer you” to consolidate the stores. A Ford spokeswoman declined to remark.
Lunghamer renamed the dealership Lunghamer Ford of Owosso and the used-auto retail store Lunghamer Car of Perry.
The acquisition provides the Lunghamer group to 3 new-motor vehicle Michigan dealerships. It also owns Joe Lunghamer Chevrolet and Lunghamer Buick-GMC, both equally in Waterford.
Joe Lunghamer also owns Flagship Ford in Baldwin, Wis., and Flagship Chevrolet-Buick in Zumbrota, Minn., operated by his business companion, John Buelow.
Pascotto was honored amid Automotive News’ 40 beneath 40 in 2012, and Falzon retired at the summary of the sale.
“I have been in the vehicle small business 51 many years,” Falzon stated. “If I didn’t retire now, I almost certainly in no way would.”
Signature Vehicle bought its Owosso Lincoln dealership in 2021 to LaFontaine Automotive Group, which quickly moved the Lincoln franchise to its Ford retail outlet in nearby Flushing, Mich.
Lunghamer stated any upcoming dealership purchases would be identified by circumstance and opportunity.
“I have been undertaking this because 1987. My window is even now open up. But at some point, it will close,” he reported. “It can be a major meal to obtain a dealership. I would like to digest for a tiny though.”
The Signature sale was facilitated by Kechnie of Overall performance Brokerage Products and services.