Hudson Automotive Group on Tuesday entered the Cincinnati market with the acquisition of its first Mercedes-Benz dealerships following a July announcement on the pending transaction. However the group purchased one fewer of the luxurious model shops than deliberate.
Hudson Automotive, of Charleston, S.C., purchased Mercedes-Benz of Cincinnati and Mercedes-Benz of West Chester, each in Ohio, from Peterson Automotive Assortment.
A 3rd dealership, Mercedes-Benz of Louisville in Kentucky, was not a part of the closing, Hudson Automotive CEO David Hudson informed Automotive Information. Hudson declined to touch upon why the Louisville retailer wasn’t included in Tuesday’s acquisition, citing a confidentiality settlement.
Hudson Automotive in July mentioned it deliberate to purchase all three dealerships by mid-September.
The Louisville retailer is about to be bought to Jeff Wyler Automotive Household Inc. in a separate transaction anticipated to shut this month, mentioned Mike Sims, president of Pinnacle Mergers & Acquisitions, a buy-sell agency in Frisco, Texas. Sims, together with Invoice Scrivner, represented Peterson Automotive within the sale to Hudson, and they’re representing Peterson within the sale of the Louisville retailer to the Jeff Wyler group.
Jeff Wyler Automotive, of Milford, Ohio, additionally owns Mercedes-Benz of Fort Mitchell in Kentucky, close to Cincinnati.
Jeff Wyler Automotive ranked No. 38 on Automotive Information‘ most up-to-date record of the highest 150 dealership teams primarily based within the U.S., with retail gross sales of 21,592 new autos in 2020.
For Hudson Automotive, the acquisition follows its November buy of Dick Dyer Toyota in Columbia, S.C., and its June buy of Hoover Toyota in Alabama. On the finish of August, it bought Murfreesboro Volkswagen in Tennessee to Victory Automotive Group.
With the 2 Mercedes-Benz dealerships, Hudson Automotive has 35 rooftops, together with a used-vehicle retailer, throughout Alabama, Tennessee, South Carolina, North Carolina, Louisiana, Georgia and Ohio.
Whereas Peterson Automotive proprietor David Peterson is retiring, Ed Keady, managing accomplice, is staying on with Hudson Automotive in the identical function on the two Ohio shops, Hudson mentioned. Keady nonetheless has a minority possession stake in these places, Hudson mentioned.