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SEARCHThe sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
The buyers and sellers of Matt Blatt Chrysler Dodge Jeep Ram pose for a photo outside the Philadelphia dealership
Performance Brokerage Services
New automotive franchisees have bought their first store, picking up the Philadelphia dealership from a family-owned auto group.
Matt Blatt Chrysler Dodge Jeep Ram was transferred from its founding auto group, Matt Blatt Dealerships, to the newly formed PalmEasy Motors in a deal handled for the auto group by Performance Brokerage Services.
The Philadelphia dealership was the Matt Blatt group’s second new-car store. It opened in 2022 after the group got its start with a used-car lot in 1989 established by founder Roy Greenblatt, a former dealership general sales manager. He named the business after his first son, Matt.
The group sold the Philadelphia store as a strategic move and still operates six dealerships between New Jersey and Pennsylvania, Performance Brokerage said.
The sell gave the founders of PalmEasy their first franchise opportunity in auto retail. The newly established venture is led by a former general manager of several local dealerships, Ahmed Fayed, and business partner Robert Palmese, an energy sector entrepreneur. They renamed the Philadelphia store Liberty Chrysler Dodge Jeep Ram.
Performance Brokerage said it’s now advised on the sale of almost 450 dealerships in the past five years.
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