Buy and Sell

VW sinks, Detroit 3 rise in buy-sell reports

12:01 am U.S. ET | Nov. 23, 2015

The value of a Volkswagen dealership, already dismal due to low sales in the U.S., has plummeted further following the diesel-emissions scandal, said two buy-sell advisory firms' reports released last week. But the reports gave domestic brand dealerships rising valuations due to low gasoline prices that have spurred truck sales.... Read More »

Dealer's retirement shows trend

12:01 am U.S. ET | Nov. 23, 2015

A Michigan deal exemplifies a trend in the buy-sell market. While giant, multi-store deals by publicly traded retailers get most of the attention, a lot of buy-sells involve large, privately held dealership groups that are buying smaller groups owned by dealers who are ready to cash out and retire.... Read More »

Penske sticks with luxury with N.J. buy

12:01 am U.S. ET | Nov. 23, 2015

Penske Automotive Group has made another strategic acquisition, staying with premium luxury franchises, by buying New Jersey's Schneider Nelson Auto Group. The purchase covers stores selling Audi, Porsche, Jaguar and Land Rover.... Read More »


BLOG: In the dealership buy-sell arena, is it a buyer's or seller's market?

12:01 am U.S. ET | Nov. 5, 2015

It’s a seller’s market for automotive retail buy-sell deals. Wait, no, it’s a buyer’s market.... Read More »


Ready to roll in the buy-sell world

12:01 am U.S. ET | Nov. 2, 2015

For a while people questioned why more publicly-traded dealership groups weren't forming, but rarely does the question come up anymore. The answer is obvious.... Read More »

McLarty Automotive buys Machens group stores in Missouri

3:00 pm U.S. ET | Oct. 29, 2015

McLarty Automotive Group has acquired all but two stores owned and operated by Joe Machens Dealerships of Missouri.... Read More »

AutoNation buys 12 Texas stores in biggest purchase since 1999

8:15 am U.S. ET | Oct. 28, 2015

AutoNation is acquiring 12 stores in Texas from Allen Samuels Auto Group. The stores generate approximately $800 million in revenues and sell about 19,500 new and used retail units a year. Terms of the deal were not disclosed.... Read More »


A new breed of dealership buyer fits the industry's needs

12:01 am U.S. ET | Oct. 26, 2015

The purchase of a majority interest in Morrie's Automotive Group in Minneapolis by the family behind construction giant Bechtel Corp. signals a new type of buyer, one that appears to fit the needs of automakers and the industry overall.... Read More »

In Boston, dealer Herb Chambers builds an empire (and attracts suitors)

12:01 am U.S. ET | Sept. 26, 2015

While Herb Chambers says he's enjoying the new-car business more than ever, the prominence in his office of a photo of him with Warren Buffett from a recent NADA meeting begs the question: is he going to sell, too?... Read More »

AutoNation bets on FCA, smaller markets

12:01 am U.S. ET | Aug. 23, 2015

AutoNation is on pace for its biggest acquisition year since 1999, and CEO Mike Jackson expects to make at least one more dealership purchase this year. Deals announced last week will give AutoNation more Fiat Chrysler stores and more locations in smaller markets.... Read More »


My Saturn stores were profitable

12:01 am U.S. ET | June 29, 2015

My company, Lucas Dealership Group, owned and operated 30 new-car dealerships between 1960 and 2000, including six Saturn stores. GM wanted to purchase them back, and it was willing to pay a goodwill/blue-sky premium. GM knew Saturn dealerships were profitable and had faith in the future of the product.... Read More »

Buy-sells are strong, but what's ahead?

12:01 am U.S. ET | June 15, 2015

A new report predicts a cooling off of the buy-sell market this year after years of robust growth. But another says it all depends on how many sellers come to market.... Read More »


Dealership M&A market cools following Soros buzz

12:01 am U.S. ET | June 8, 2015

When representatives of Wall Street financier George Soros told dealers this January at the National Automobile Dealers Association convention that the billionaire's family fund wanted to buy dealerships, it prompted a flurry of speculation that private-equity money and wealthy families' funds would open their fat wallets and inflate buy-sell prices. But so far, deals aren't getting done.... Read More »

Dealers can't even touch some hot brands

12:01 am U.S. ET | May 25, 2015

Buying a luxury German-brand dealership isn't easy. Just ask dealer David Slone. His three-year, as yet unsuccessful search shows how difficult it is to acquire an in-demand brand.... Read More »


California dealers attract buyers despite business climate

12:01 am U.S. ET | May 4, 2015

Dealers are eager to buy dealerships in California again.... Read More »


Florida, Texas trending hot in buy-sell market, but few sellers

12:01 am U.S. ET | May 4, 2015

Florida and Texas are experiencing explosive demand from buyers looking for dealerships, even while sellers remain few.... Read More »

RFJ buys Dave Smith Auto

12:01 am U.S. ET | April 25, 2015

Fast-growing dealership group RFJ Auto Partners is expanding in the Northwest by buying Dave Smith Auto Group, which operates two of the highest-volume stores in the U.S. RFJ, backed by private equity, aims ultimately to become one of the biggest dealership groups in the country.... Read More »

Blue sky surges for German luxury brands

12:01 am U.S. ET | April 13, 2015

The values for German luxury brand dealerships in the United States are in the stratosphere, while some other brands are such poor prospects that the buy-sell market cannot even assign them a multiple. Those are some of the key findings in a just-released report put out by the advisory firm Haig Partners.... Read More »

Buffett extends a hand to dealers -- 'If we shake hands, we've got a deal'

12:01 am U.S. ET | April 6, 2015

With the deeper pockets of Berkshire Hathaway Inc. now backing it, the former Van Tuyl Group intends to add dealerships going forward. "In the next couple of years, we're likely to make a number of acquisitions," Berkshire Hathaway Chairman Warren Buffett said last week.... Read More »

Giant Miller group reshuffles for the buy-sell bonanza

12:01 am U.S. ET | March 23, 2015

A drastic restructuring at the nation's fourth largest private dealership group is the latest sign of changing times in the auto retail business. Eager to expand, the giant Larry H. Miller Group of Cos. last week positioned itself for a new era in which private equity and other nontraditional buyers are coming on fast.... Read More »

Buy-sell deals, blue sky soar

12:01 am U.S. ET | March 16, 2015

Buy-sell transactions surged last year, sending dealership values higher, especially for luxury brands.... Read More »


BLOG: Buyers make big bets on dealerships in a seller's world

9:55 am U.S. ET | Feb. 18, 2015

You know it is a seller's market when the seller can dictate all the shots, and I mean all the shots. I was speaking to a buy-sell adviser this week, who shared an unsolicited anecdote because this adviser was so awe struck by it.... Read More »

Car dealer wannabes must pay the price

12:01 am U.S. ET | Feb. 16, 2015

Last month medical industry entrepreneur Taseer Badar became a dealer the way most do these days: by forking out huge sums, in this case to Gerald Hollingsworth for his Mercedes-Benz, BMW and Mazda stores. The deal illustrates the twists and big bucks involved in buy-sells today.... Read More »

Group 1 and Prestige settle Fla. buy-sell dispute

3:50 pm U.S. ET | Jan. 29, 2015

A dispute between Prestige Motor Car Imports and Group 1 Automotive over a buy-sell deal in Florida gone wrong is settled and the deal is back on -- for now, both sides said.... Read More »


BLOG: A new Gold Rush sweeps over California

12:45 pm U.S. ET | Jan. 25, 2015

Like Warren Buffett and George Soros, so-called hybrid buyers -- private equity funds and super-wealthy families and combinations of the two -- are on the hunt for dealership deals. This new category of dealership buyer could turn out to be as transformational as the six public groups that rolled up a significant part of the industry almost 20 years ago.... Read More »