Automotive News Updates

Sonic-RFJ deal closure leads flurry at year-end

  • Share


On the promoting aspect, Prime Automotive, which bought most of its holdings to Group 1 Automotive final month, bought a Toyota retailer in Lancaster, Mass., on Dec. 7. Prime ranked No. 18 on the listing.

AutoFair Automotive Group, which ranks No. 131 on the listing, and its seven dealerships throughout New Hampshire and Massachusetts, was purchased by Terry Taylor, by his Automotive Administration Companies Inc., on Dec. 6.

Continental Motors Group, No. 147 on the listing, bought a Honda retailer on Dec. 6.

Different giant non-public teams additionally purchased shops. Hudson Automotive Group acquired two Mercedes-Benz dealerships in Ohio on Dec. 7 from Peterson Automotive Assortment.

“I believe it is a good marketplace for consumers and sellers,” stated Hudson Automotive CEO David Hudson. “There are many good, well-capitalized acquirers which are on the market available in the market. I believe that sellers are getting good worth for his or her companies if now’s the best time to exit.”

One dealer described the amount of offers as out of the peculiar for year-end. “I believe this [past] week will most likely be a file week within the historical past of buy-sells,” stated Mike Sims, president of Pinnacle Mergers & Acquisitions, a buy-sell agency in Frisco, Texas.

Melissa Burden and John Huetter contributed to this report.


Supply hyperlink

  • Share

Leave a Reply

Your email address will not be published.