DEALERSHIP BUY/SELL

Penske Automotive adds Calif. BMW, Mini stores

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Automotive News
October 15, 2012 - 12:01 am ET

Penske/Savage

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.

Germain/Cooper

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.

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