Fletcher Jones Automotive Group knows its sweet spot, and it’s added another dealership that fits squarely in it.

The Newport Beach, Calif.-based dealership group has purchased Mercedes-Benz of Beverly Hills from Group 1 Automotive, according to the Presidio Group, which advised the seller in the transaction.

“This acquisition is a natural next step for Fletcher Jones as we continue to invest in the markets where we have scale,” company president Keith May said. “Adding Mercedes-Benz of Beverly Hills enhances our already significant presence in Southern California.”

The Beverly Hills store is the second Southern California luxury dealership acquired by Fletcher Jones this year, joining Santa Monica BMW, which was added in January. The company now operates 14 locations in California and three in the Las Vegas area and has concentrated on building its strength in those markets after selling locations in Chicago last year.

That emphasis on portfolio management is the same reason cited by Group 1 CEO Daryl Kenningham for his company’s decision to sell the dealership.

“After significant acquisitions expanding Group 1’s footprint and increasing our luxury presence in strategic locations, this sale allows us to further focus on our growth in our core markets,” he said. “Mercedes-Benz of Beverly Hills has a proud legacy, and we’re confident Fletcher Jones will carry it forward.”

In 2025, Group 1, which operates 253 dealership locations and 32 collision centers in 18 states and the U.K., acquired luxury stores in Atlanta, Fort Myers, Fla., and Austin, Texas, markets in which it already had a significant presence.

The company continues to operate three locations in Southern California, including two Lexus dealerships.

Presidio managing director Alex Watterson portfolio management has become an established trend that is central to the momentum in the dealership M&A market.

“As we’ve said for years, the largest and best dealership groups increasingly practice disciplined portfolio management, and this transaction is the latest proof,” he said. “Five Presidio-guided transactions so far in 2026 have involved portfolio management, and we expect many more in what is shaping up to be a robust dealership M&A year.”

AutoNation staffers raise $77,000 to fight childhood cancer

A team of more than 110 AutoNation employees combined to raise more than $77,000 in donations and company contributions for lifesaving pediatric cancer research at CURE Childhood Cancer’s 32nd annual Lauren’s Run and Picnic last weekend in Atlanta.

The national vehicle retailer, which fielded the largest team for the run, has served as the presenting sponsor of Lauren’s Run since 2013, contributing more than $650,000 in that span as part of the company’s commitment to funding cancer research and patient programs through its DRV PNK initiative.

“Each year, our AutoNation associates are inspired to come together to participate in Lauren’s Run and help make a difference in the lives of children with cancer and their families,” AutoNation market president Lloyd Steeves said. “We are honored to support our friends at CURE who are working tirelessly to advance childhood cancer research and help families confront a childhood cancer diagnosis.”

CURE is dedicated to conquering childhood cancer through funding targeted research while supporting patients and their families. AutoNation said it has supported thousands of cancer patients and raised millions of dollars for cancer-related causes though DRV PNK since the campaign was created in 2015.