Lithia Motors has expanded its presence in the Memphis market with the purchase of four dealerships from Tennessee’s largest privately held group. +
Penske Automotive Group has entered into a definitive merger agreement to be taken private by its two largest shareholders, Penske Corp. and Mitsui & Co., which will own 64% and 36% of the company, respectively. +
Tim Michael and his family-owned group plan to carry forward Larry Cloninger’s "Just Better" mantra as the new owners of his Ford, Honda and Toyota dealerships. +
Walser Automotive has fortified its presence in the Minneapolis-St. Paul market with the addition of two Ford dealerships and a Chevrolet store. +
Kerrigan Advisors’ latest quarterly auto dealership buy-sell report finds a market accelerated by big groups spending big money in big markets. +
Fletcher Jones Automotive Group adds to its divestiture of high-profile dealerships with the sale of Porsche Walnut Creek (Calif.) to Sonic Automotive. +
Luke Ramseth of The Detroit News reports Carvana’s seven recently acquired Stellantis dealerships have sold new vehicles to customers in 37 states. +
Thinking about selling your agency? APCO Holdings’ Courtney Hoffman urges principals to tackle oft-overlooked subjects like technology, long-term goals and the realities of transitioning from owner to employee. +
Atlanta will become Group 1 Automotive’s second-largest market with the billion-dollar purchase of Hennessy’s Automobile Companies’ 10 dealerships. +
A nonbinding proposal from Penske’s largest shareholders would take one of the “Big 6” publicly traded dealer groups private at $210 per share. +
