DCD Automotive Holdings Inc., formed in 2015 after acquiring a group of dealerships from Ernie Boch Jr., has added two Boston-area Chevrolet stores.
The Norwood, Mass., group on March 2 bought Lannan Chevrolet of Lowell and Lannan Chevrolet of Woburn from the Lannan family. Terms were not disclosed, but the stores have been renamed Nucar Lannan Chevrolet of Lowell and Nucar Lannan Chevrolet of Woburn.
DCD CEO Chris Dagesse said the group had been talking for a couple of years with the Lannans regarding an acquisition.
"It was in our backyard in good markets, with Lowell and Woburn being good markets out in the Boston area," Dagesse told Automotive News. "And we just thought it was a great fit. They had a great team of people, which we haven't made any changes [to] whatsoever. We're just looking forward to running them as they are. They're very successful. I think there's some used-car growth opportunity there, but otherwise, very well-run stores, very stable."
Neither party used a broker, Dagesse said.