Fletcher Jones Automotive Group has completed its exit from Northern California with the sale of Porsche Walnut Creek to Sonic Automotive, according to a news release from The Presidio Group, its advisor on the sale.

“In recent years, we’ve taken steps to hone our dealership portfolio to focus on the markets that best align with our long-term objectives and where we have longstanding operations and significant scale in luxury automotive retail,” Fletcher Jones president Keith May said in a news release.

“The sale of Porsche Walnut Creek is another step in that effort, and Sonic is well positioned to continue the dealership’s success,” May said.

“Presidio’s guidance throughout the process was exceptional as usual; the firm’s unmatched understanding of the dealership buy-sell landscape and its proven execution capabilities once again surpassed our expectations.”

Sonic, meanwhile, adds to its portfolio in the state, which already included BMW, Honda, Jaguar, Land Rover, Lexus, Mercedes-Benz, MINI and Toyota dealerships, along with EchoPark Automotive and Harley-Davidson stores.

“It’s been a pleasure working with our Porsche partners, The Presidio Group and Fletcher Jones Automotive Group on our acquisition of Porsche Walnut Creek,” Sonic chairman and CEO David Smith said in the release.

“We’re excited to expand our portfolio with this acquisition and look forward to delivering our world-class guest experience to guests of Porsche Walnut Creek.”

Alex Watterson, managing director at Presidio, added: “Porsche Walnut Creek brought together many of the attributes buyers are pursuing today — a premier luxury franchise, a highly affluent market and meaningful long-term growth potential.

“We were proud to help Fletcher Jones identify a buyer that recognizes those strengths and can leverage an established presence in the market.”