Stephen and Charlie Gilchrist of Gilchrist Automotive in Hudson Oaks, Texas, bought four dealerships in three transactions this year, including the group's first Honda store.
The first purchase involved Legend Driven Buick-GMC and Legend Driven Honda, both in Lawton, Okla., in the southern part of the state. Gilchrist Automotive bought the two stores Jan. 26 from Tim Allred of Rocky Mountain Yeti Automotive Group and renamed them SouthWest Buick-GMC and SouthWest Honda.
In September, Gilchrist Automotive purchased a Toyota store in Lawton, which made the region attractive for this acquisition, co-owner Stephen Gilchrist told Automotive News.
"It makes sense to cluster stores in towns," Stephen Gilchrist said.
Gilchrist Automotive also purchased Legend Driven Mazda in Lawton, now SouthWest Mazda, from Allred in a deal that closed April 11.
Renovations are underway at the Buick-GMC and Honda stores to conform to brand imaging guidelines, Stephen Gilchrist said.
Gilchrist Automotive also is integrating some of its staff into the dealerships, with the goal of optimizing performance.
"Typically, we don't buy stores that are performing well," Stephen Gilchrist said. "We have to figure out what we have there and what we need to bring in or upgrade."
Also in January, Gilchrist Automotive bought Stanley Ford Pilot Point, north of Dallas, from Stanley Auto Group. Hicks Management & Consulting Inc., a buy-sell firm in Arlington, Texas, facilitated the Jan. 31 transaction.