Ross Automotive Group has sold its Ross Nissan of El Monte to Martin Management Group. The deal was announced in a news release Thursday by Performance Brokerage Services, which represented Ross Automotive Group in the sale.
The group includes three stores in Southern California: Ross Ford of Montebello, Covina Hills Chevrolet and Chevrolet of Puente Hills.
Meantime, Martin Management Group includes a mix of franchised dealerships and Harley-Davidson stores in Kentucky, Ohio, West Virginia, South Carolina, California and Tennessee.
Jim Ross founded the dealership group bearing his name back in 1979 and is its president.
“From the first call I made to Jason Stopnitzky, I knew we had a connection,” Ross said in a news release, referring to the co-founder of Performance Brokerage Services and the exclusive agent for the deal.
“Once we put the deal on paper, he actually worked the deal, and made it all come together the way I thought it should. It’s people like Jason that make this world a better place. Thank you to Jason and his team at Performance Brokerage Services for making this a great situation on my end, and a great deal for the buyer with this Nissan franchise. I appreciate all they did to put this deal together and I would recommend them to anyone who wants to sell their franchise.”
Chad Martin is the president of Martin Management Group. In the release, he said: ““Our group had a great experience with Performance Brokerage Services. Jason Stopnitzky and his team know the automotive market extremely well. From the dealers, to the OEMs, to the attorneys, this is an extremely well-respected brokerage firm that goes above and beyond to communicate and get deals closed quickly and accurately. In a business where time is of short supply, the high level of service offered is greatly appreciated.”
Stopnitzky said: “Transactions of this magnitude are complex by nature. Both principals managed to make the process seamless, and frankly, enjoyable. It was a privilege to represent Mr. Ross, who has been in the industry for more than 40 years and built a terrific reputation. Both gentlemen were an absolute pleasure to work with.”
In what the retailer says is one of the largest purchases ever in terms of franchise count, Lithia Motors & Driveway announced Tuesday that it has purchased The Suburban Collection.
The Troy, Mich.-headquartered Suburban Collection includes 56 franchises, with 33 brands across 34 locations. It is also Lithia's first major entry into the North Central region.
Lithia anticipates the purchase will add $2.4 billion in annualized revenues, bringing its total expected annualized revenues acquired to $6.5 billion since it announced a five-year plan nine months ago.
The plan is to reach $50 billion in revenue and $50 of earnings per share. Lithia said the plan had a $4 billion annual target, and the retailer is currently beating that target by more than 60%, it says.
The retailer also said this deal means it has completed six of the eight largest purchases in auto retail.
"The Suburban Collection is a leader in the Midwest automotive retailing sector and a respected fixture in its local communities for more than 70 years," Lithia president and chief executive officer Bryan DeBoer said in a news release. "David Fischer, Jr. and his father, David T. Fischer, have earned a phenomenal reputation over those seven decades for taking excellent care of their customers, team members, and local communities. We are pleased that David Fischer, Jr. will join our team leading and continuing to expand the Suburban Collection footprint in the North Central region. We welcome the entire Suburban team to the Lithia and Driveway family."
DeBoer added: "Lithia was once again pleased to work with the Presidio Group, who represented the Fischer family and played a key role in the success of this historic transaction. The franchise mix is perfectly suited for Lithia & Driveway's North Central region and provides a massive platform to build on."
Along with the aforementioned franchise, location and brand count, The Suburban Collection has 2,250 team members. According to Lithia, it is the nation’s 12th largest private dealer group, based on revenue.
Most of its stores focus on the Big 3 brands, but the group also includes such luxury brands as Mercedes-Benz, BMW, Bentley, Lamborghini and Bugatti, according to a news release from Presidio.
In that release, David T. Fischer, who is chairman of Suburban Collection Holdings, said: "A tradition is carried on when like-minded professionals work together to ensure a vision is continually realized. This new partnership will ensure our customers are served like never before and our team members are afforded new opportunities for growth and advancement."
Added David Fischer Jr., who is president and CEO of The Suburban Collection, "The Presidio Group was a careful steward of our requirements for matching us with the best buyer, Lithia Motors, to take our dealerships to the next level for growth. It was incredibly important to us that the new owner maintained our culture and took care of our 2,250 team members. I am honored to continue to lead The Suburban Collection team, backed by the enhanced technology, selection and financing options Lithia brings with its ownership."
Lithia has been the most active of the public groups in terms of acquisitions, as of late.
In March, Lithia expanded its presence in the Southwest with the purchase of Avondale Nissan in Phoenix.
That purchase followed Lithia’s acquisition of Fink Automotive Group in Florida earlier in the month.
Lithia announced in February that it has purchased a Land Rover dealership and a Chrysler Jeep Dodge Ram store from Fields Auto Group. Both locations are in the Orlando, Fla., area. Lithia also opened a previously awarded Infiniti store in downtown Los Angeles.
Myers Auto Group of West Palm Beach, Fla. has acquired Mastro Subaru of Tampa, Fla. and Mastro Subaru of Orlando in Sanford, Fla.
New car dealership broker George Chaconas of Performance Brokerage Services announced the sale, and Performance said Mastro Subaru is known as “Florida’s original Subaru retailer.”
Family-owned-and-operated Mastro Subaru has served the Tampa Bay and Orlando area for more than 50 years.
The dealerships will remain at their current locations under their new names of Subaru South Tampa and Subaru North Orlando.
Stephen Mastro of Mastro Subaru said his dealership had been considering selling “if the number was right.”
“More important was finding the right partner to continue our legacy and allow us to stay on to transition our family business of 50 years,” Mastro said in a news release. “We had been approached to sell by several large Florida and out-of-state auto dealership groups and public companies.”
He said Chaconas of Performance Brokerage Services “brought us exactly what we had asked from him and what we were looking for in a buyer.”
Myers Auto Group’s current dealership holdings include Aston Martin Palm Beach, Jaguar Palm Beach, Land Rover Palm Beach, McLaren Palm Beach, Kia Delray Beach and its newest additions, Subaru South Tampa and Subaru North Orlando.
“After successfully acquiring a dealership last year with the help of George Chaconas, we engaged him to identify other potential opportunities,” said Stephen Myers Jr. of Myers Auto group. “Shortly thereafter, he introduced us to Mastro Subaru of Tampa and Orlando.”
Chaconas of Performance Brokerage Services said Myers Auto Group hired him to help identify additional acquisition opportunities in Florida after helping Myers acquire Grieco Kia of Delray Beach last year. “The opportunity to acquire the Mastro Subaru stores seemed like a natural fit and an excellent opportunity to grow the Myers Auto Group platform,” Chaconas said.
Performance Brokerage Services also provided additional information about Mastro Subaru, noting that Peter Mastro Sr. saw the vision for small cars after owning a small Volkswagen repair shop that was located next to the Tampa Subaru location. Since that time, Peter Jr. and Stephen Mastro continued their father’s legacy, keeping involved with their community. The company employs more than 100 people and supports causes such as Southeastern Guide Dogs.
Updated to correct spelling of dealership name.
Holman Consumer Services president and chief executive officer Brian Bates says St. Louis Motorcars is widely regarded as a top destination for premium automobiles and has a track record of bringing “a curated experience that is truly worthy of these world-class luxury brands.”
On Thursday, Holman Automotive announced it had acquired St. Louis Motor Cars, describing it as “one of the premier ultra-luxury dealerships in the Midwest.”
The St. Louis facility includes a lineup of vehicles from Aston Martin, Bentley, Bugatti, Lamborghini, Lotus and Rolls-Royce Motor Cars.
The dealership will operate as Holman Motorcars St. Louis and will align with Holman Motorcars Fort Lauderdale. Holman said it will further expand upon the organization’s “sustained success in this segment of the market.”
“As our Holman Automotive family of dealerships continues to evolve, we remain focused on further diversifying our brand portfolio, strategically expanding our geographic footprint and fostering an exceptional customer experience representative of our long-standing Holman values; and St. Louis Motorcars certainly checks all those boxes,” Bates said in a news release.
St. Louis Motorcars’ 50,000-square-foot dealership has provided sales and service to customers throughout the region for almost two decades. Holman describes it as a “prominent destination for ultra-luxury automobile buyers from across the country.”
The company said Holman Motorcars St. Louis will continue to offer a diverse lineup of luxury and exotic vehicles from several of what it describes as the most iconic brands in the automotive industry.
Aston Martin, Holman said, “blends beauty, luxury and driving dynamics throughout its diverse line of motor cars.” Those include the brand's first-ever SUV — the DBX — which will be available at Holman Motorcars later this year.
As for the Bentley lineup, Holman says “sleek, contemporary styling and agile performance” are among the lineup’s “unmistakable trademarks.” Holman says the lineup is highlighted by the Continental GT and the redesigned Flying Spur.
Moving on to discuss Bugatti, Holman said it combines “an artistic approach with superior technical innovations to deliver the pinnacle of luxury and performance.” Vehicles include what Holman says is the world’s fastest production car: the Chiron.
Lamborghini, Holman said, delivers “the industry’s most desirable luxury super sports cars.”
Those vehicles include the Aventador, Huracán and Urus super SUV, and Holman says Lamborghini delivers the vehicles through a commitment to “uncompromising quality and attention to the finest detail.”
Regarding Lotus, Holman says it remains dedicated to “crafting pure driver’s cars.”
Holman described Lotus as featuring “innovative engineering, leading-edge technologies, advanced materials, and outstanding ride and handling.”
Those features, according to Holman, “ensure every Lotus, including the Evora GT, delivers exceptional performance through light weight.”
And as for Rolls-Royce, Holman said it combines “cutting-edge design and the world’s finest craftsmanship.”
Holman added, “Rolls-Royce embodies the pinnacle of luxury, and the prestigious Phantom continues to endure as a timeless classic.”
Group 1 Automotive has acquired two BMW/Mini dealerships — in Albuquerque and Santa Fe, N.M. — which the company says represents New Mexico’s only BMW and MINI franchises.
The acquisition also includes BMW Motorrad franchises. With the purchase of those businesses, which are also located in Albuquerque and Santa Fe, Group 1 said in a news release that it is the exclusive seller of BMW motorcycles in New Mexico.
Group 1 also said the stores represent Group 1’s first motorcycle franchises in the U.S. and that the transaction adds to the existing relationship with BMW Motorrad in the United Kingdom and Brazil.
Group 1 expects the dealerships to generate about $100 million in annualized revenue.
With the acquisition, Group 1’s total representation in New Mexico expands to seven Jaguar, Land Rover, BMW and Mini brand automotive franchise operations.
In the United States, the United Kingdom, and Brazil, Group 1 owns and operates 180 automotive dealerships, 233 franchises, and 47 collision centers and offers 30 brands of automobiles.
“We are pleased to expand our dealership footprint in the fast-growing New Mexico market and increase our long-standing partnership with BMW,” Group 1 president and chief executive officer Earl Hesterberg said.
The HGreg Group, which owns three Nissan dealerships in Canada, opened HGreg Nissan Delray Beach on March 6. The Florida location is HGreg’s first new-car dealership location in the United States.
(The group already owns several used-car stores in Florida.)
In other dealership news, Jim Ellis Automotive Group in Atlanta acquired Toyota of McDonough in Georgia and renamed the dealership Jim Ellis Toyota of McDonough.
Regarding the HGreg news, the company’s president, John Hairabedian, said in a news release that his company has built a strong partnership with Nissan, and “that allows us to offer a greater variety of vehicles to our customers, now across both countries.”
HGreg’s 3.75-acre new site was previously known as Delray Nissan. It includes a 17,000-square-foot office, service and maintenance centers and a boutique showroom showing new and more technologically-advanced Nissan models.
The company’s $28 million investment will go toward dealership renovations, training, technology and initial promotions. HGreg Nissan Delray Beach will continue to employ about 65 full- and part-time workers.
HGreg says the location "will enjoy a direct pipeline to the large selection of pre-owned vehicles available through the HGreg.com network in South and Central Florida."
HGreg.com has operated in Florida and the United States since 2010 and runs pre-owned car dealerships in Doral (Miami-Dade), Westpark (Broward), and Orlando. It also operates a boutique dealership for pre-owned luxury vehicles, HGreg LUX, in Pompano (Broward).
Under the HGregoire.ca banner in Canada, the company operates 11 pre-owned and 10 new-car dealerships.
“We expect that this new dealership will deliver the exceptional experience for which HGreg.com is recognized to our existing clients and to all Nissan clients in Delray Beach,” Hairabedian said.
Regarding the news for Jim Ellis Automotive Group, which describes itself as “Atlanta's largest family-owned automotive group,” Jim Ellis Toyota of McDonough is now the 18th dealership in the Jim Ellis brand. Located at 144 Highway 81 West, in McDonough, Ga., the 57,000-sq.-ft. facility is the first for Jim Ellis in Southeast Atlanta.
The facility’s amenities include a newly remodeled customer lounge, complimentary Wi-Fi, and shuttle service.
“It has been our pleasure to provide great car buying experiences in metro Atlanta for more than 48 years, and we are excited to expand our reach to serve customers in McDonough and the surrounding areas,” Jim Ellis Automotive Group president Jimmy Ellis said. “We are equally delighted to add the Toyota brand to our retail portfolio and are eager to foster a long-lasting relationship for many years to come."
“We are fortunate to have inherited an enthusiastic staff committed to putting customer needs first,” added Jim Ellis Toyota of McDonough vice president Wesley Ellis. “Jim Ellis customers have become accustomed to a high level of excellence, and our team at Toyota continues to rise to the challenge of stellar service to our valued customers.”
