Penske Automotive adds Calif. BMW, Mini stores
BUYER: Penske Automotive
SELLER: Savage BMW/Mini of Ontario
NAMES: Savage BMW and Mini of Ontario, Ontario, Calif.
MORE: The dealerships are expected to contribute about $125 million in annual revenue. They are in the Ontario Auto Mall and have 49 service bays and more than 500 spaces for customer and inventory parking.
Serra/Mears and Ludwig
BUYER: Serra Automotive Inc.
SELLERS: John and Glenn Mears and John Ludwig (Park Auto Group)
NAMES: Park Honda, Park Acura and Park Mazda-Subaru, Green, Ohio (near Akron)
MORE: With the addition of Park Auto Group, Serra, of Grand Blanc, Mich., has 27 dealerships representing 40 franchises in Michigan, Indiana, Ohio, Colorado, Tennessee and New Jersey.
BUYER: Germain Motor Co.
SELLER: Howard Cooper
OLD NAMES: Howard Cooper Honda, Howard Cooper Audi, Howard Cooper Volkswagen, Howard Cooper Porsche, Ann Arbor, Mich.
NEW NAMES: Germain Honda of Ann Arbor, Audi Ann Arbor, Volkswagen of Ann Arbor, Porsche of Ann Arbor
MORE: Bill Scrivner and Mike Sims of Pinnacle Mergers and Acquisitions were the advisers on the transaction.