US Auto Trust, a budding private dealership group owned by Edward Glazer of the NFL's Tampa Bay Buccaneers, has acquired Jaguar-Land Rover Stevens Creek.
US Auto Trust acquired the San Jose, Calif., store from Qvale Auto Group. The deal closed Tuesday, and terms were not disclosed, though US Auto will keep the dealership's name.
"This strategic acquisition expanded our dealership footprint into the highly desirable San Jose market," Matt Kaiser, US Auto Trust president, said in a statement.
The group was founded in 2018 and is based in Los Angeles, Kaiser said. Glazer, an owner and co-chairman of the Buccaneers, is the founder and CEO of US Auto Trust, according to his biography on the team's website. The Glazer family also owns English soccer giant Manchester United of the Premier League.
This marks the second JLR dealership for US Auto Trust and is its fourth store overall. It acquired Jaguar Land Rover Newport Beach from Pendragon, a public dealership group in the United Kingdom, in December 2019. US Auto Trust also acquired Pendragon's Aston Martin store in Newport Beach, Calif., in 2018. It owns Aston Martin San Diego as well.
"There's a couple things that we're working on right now," Kaiser told Automotive News. "We're actively buying dealerships."
Presidio Group, an investment banking and dealership advisory company, represented Qvale in the Jaguar-Land Rover Stevens Creek transaction.
