#1 Cochran Automotive buys first dealerships outside of Pa., acquires first Honda store

Growing #1 Cochran Automotive last week expanded beyond Pennsylvania state lines with the purchase of two Ohio dealerships.

#1 Cochran, of Monroeville, Pa., on Friday bought Sweeney Chevrolet and Sweeney Buick-GMC in Boardman, Ohio, south of Youngstown, and just west of the Pennsylvania border, from Alexa Sweeney Blackann, president of the stores. They were Blackann's only dealerships, said Rob Cochran, CEO of #1 Cochran.

The stores were renamed #1 Cochran Chevrolet Youngstown and #1 Cochran Buick-GMC Youngstown.

"We have done a good job in building out much of Western Pennsylvania based on our strategy," Cochran told Automotive News. "There's potentially a few more steps to make, but we've done maybe the majority of what we think could make sense within our home market.

"And so then the questions began to come up a year, two years ago [of], 'What do we do next?' We studied some of the adjacent markets, because again, that makes most sense from a cultural extension and a brand extension and how do we help our team members with career development opportunities?"

Cochran said he had a long-standing relationship with the Sweeney family including Blackann and her father, Doug Sweeney.

"There was a contact and kind of a, 'What are you guys thinking about?' After a few discussions we realized that there were a lot of similarities between the way they operate and what's important to them and what's important to us," he said. "We think the marriage is going to be a good one."

The Ohio acquisitions followed a fourth-quarter purchase in 2022 for #1 Cochran.

On Oct. 24 #1 Cochran bought Thomas Team Honda in Johnstown, Pa., from Thomas Automotive and one undisclosed minority partner, Thomas Automotive CEO Mark Thomas said in an email to Automotive News.

"Thomas Team Honda was unique among the Thomas dealerships in that we did not own the real estate," Thomas said in a statement. "For us, the opportunity to sell arose at a time when our building lease was up for renewal."

It marks the first Honda store for #1 Cochran, Cochran said. The dealership was renamed #1 Cochran Honda Johnstown.

"We've been seeking an opportunity for some time," Cochran said of Honda. "This came up and we ventured a little bit east of where we've historically been into Johnstown."

Cochran said this is the group's first store in Johnstown, which is east of Pittsburgh and southwest of Altoona and State College.

The Honda acquisition was the group's first since it bought a Ford store in March 2022, Cochran said. That acquisition was #1 Cochran's first acquisition in more than three years.

#1 Cochran ranks No. 61 on Automotive News' most recent list of the top 150 dealership groups based in the U.S., retailing 14,195 new-vehicles in 2021.