LaFontaine purchase is its second already this year as it continues brisk growth pace.
A Michigan dealership group picked up its second store so far this year with the purchase of a Plymouth Chevrolet store.
LaFontaine Automotive Group acquired Lou LaRiche Chevrolet in the Detroit metropolitan area for an undisclosed amount.
The dealership will be renamed LaFontaine Chevrolet Plymouth after the transaction closes.
It follows LaFontaine’s purchase of Pfeiffer Lincoln in Grand Rapids in January. The Detroit News reported that the dealership group has picked up 17 Michigan stores in the past five years, and Automotive News ranks it 33rd on its list of the top 150 groups in the U.S.
Last year’s buy-sell market was brisk and the second most active year after 2021, with 566 transactions.
LEARN MORE: Dealership Profits Reach Peak in 2022
Originally posted on Auto Dealer Today
See all comments