Groups Make Q3 Transactions
Deals close across three groups and in three states.
The deals occurred in California, Alabama and North Carolina.
IMAGE: Getty Images/Fahroni
Three separate groups of dealership transactions took place in the third quarter, Automotive News reported.
Southern California-based Envision Motors an Oxnard, Calif. Ford-Lincoln store near Los Angeles and rebranded under its group name.
The group told Automotive News that it plans to acquire several dealerships in California after picking up three in the state last year.
Florida-based Step One Automotive Group a Nissan store and a Chrysler-Dodge-Jeep-Ram dealership, both in Andalusia, Alabama, south of the capital of Montgomery, from Walt Massey Automotive Group. The new owner renamed both stores after the city.
Automotive News reported that Walt Massey’s dealerships are all now in Mississippi. The publication ranks Step One as its No. 100 out of the country’s top 150 dealership groups.
Lastly, business partners Dan Miller and Mark Zurales acquired a North Carolina Chevrolet store dating to the early 1920s near the state capital of Raleigh, branding it MZ for their surnames and doubling their dealership count to two.
The partners told Automotive News that they plan to continue building what they’ll call MZ Automotive Group.
Originally posted on Auto Dealer Today
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