Two Canadian dealership groups expanded their U.S. portfolios, a growing dealership group added more stores, and a dealer bought his second franchised store — all in fourth-quarter transactions.
Here's a look at the deals involving domestic and luxury dealerships and stores in California, Tennessee and Pennsylvania.
Nouri/Shaver expand with acquisitions, formalize partnership
Bob Nouri and Pete Shaver ended a busy, acquisitive year with the Dec. 20 purchase of Suburban Buick-GMC-Cadillac of Costa Mesa in California, Nouri confirmed to Automotive News.
It marks the first Cadillac franchise for the duo, Nouri said. They renamed the store Costa Mesa Buick-GMC-Cadillac.
Suburban Collection, founded by the Fischer family in 1948, sold the Costa Mesa store, Nouri said. That California store was not included in Lithia Motors Inc.'s April 2021 purchase of 34 new-car dealerships from Suburban Collection in Michigan.
Nouri and Shaver's December acquisition followed a busy November for the pair, during which they purchased another domestic dealership, were awarded an open-point new-car store and formalized their joint venture: Nouri/Shaver Automotive Group.
Nouri and Shaver on Nov. 16 bought WIN Chevrolet in Carson, Calif., from Jerry Heuer and Hani Nassif, Nouri confirmed. They renamed that dealership Chevrolet of Carson. Costa Mesa and Carson are south of Los Angeles.
Nassif and Heuer sold the last of their dealerships. That duo also on Nov. 16 sold the former WIN Hyundai Carson to Brandon Steven Motors.
Nouri said he and Shaver plan to add some staff at the Chevrolet dealership, but have no changes planned for the facility. "It's already a beautiful building," he said.
Nearly two weeks after closing on the Chevrolet store, Nouri and Shaver on Nov. 28 got the approval to open their awarded open-point store: LAX Chrysler-Dodge-Jeep-Ram in Inglewood, Calif., also nearby Los Angeles.
In June, Nouri and Shaver also purchased Sacramento Chrysler-Dodge-Jeep-Ram in California from Potamkin Automotive Group Inc.
Nouri said he hopes to close on four more dealership purchases in the next 60 days. If successful, Nouri said, the deals will involve stores representing Ford, Kia and Hyundai brands.
Nouri and Shaver's dealerships in 2021 sold about 40,000 combined new- and used- vehicles, generating about $1.75 billion in revenue, according to Performance Brokerage Services, a buy-sell firm in Irvine, Calif., which represented the sellers in the WIN Chevrolet transaction. That firm's co-founder Jason Stopnitzky brokered the deal.
In October, Nouri and Shaver also appointed Armina Mgerian as CEO of their dealership group, Nouri said.