Chief Automotive Group, a Southern dealership group formed less than two years ago, doubled its dealership count last month with the acquisition of Bay Cars, currently a three-store complex consisting of Hyundai-Lincoln, Mitsubishi and Chrysler-Dodge-Jeep-Ram stores in Panama City, Fla.
The group bought the stores from Florida State Sen. George Gainer.
The deal closed on March 1, and terms were not disclosed, though Chief Automotive will retain the Bays Cars name, said Gary Dodson, the group's president.
"We like the coast," Dodson told Automotive News, referring to Bay Cars' location in the Gulf Coast town in the Florida Panhandle. "The car business is really good along there."