Three auto retailers added to their dealership portfolios with the purchases of single stores in the first and third quarters, while a former dealership executive general manager and partner bought their first dealership in a second-quarter purchase.
Here's a look at the deals involving import dealerships and stores in Indiana, New Jersey, California and Alabama.
Barnes Crossing Auto acquires Duell's Evansville Hyundai in Indiana
Joe Marshall, owner of Barnes Crossing Auto Group of Tupelo, Miss., last month bought Duell's Evansville Hyundai in Indiana from Doug Duell and Amish Patel.
The dealership is now named Hyundai of Evansville.
The sale was final Aug. 3, the same day Duell and Patel sold their Evansville, Ind., Kia dealership to Lou Fusz Automotive Network.
Duell, now retired, told Automotive News that he acquired the Hyundai dealership in 2011. It was Indiana's top-volume Hyundai dealer in new-vehicle sales for two of the past four years, a Hyundai spokesman confirmed.
Barnes Crossing has more than a dozen franchised dealerships selling Buick, Chevrolet, GMC, Ford, Hyundai, Kia, Mazda, Mitsubishi, Toyota and Volkswagen vehicles, Marshall said. The group also has one used-vehicle store.
"I have a big Hyundai store in Tupelo, Miss., a really good Hyundai store in Columbia, Tenn., so I like the Hyundai brand," Marshall told Automotive News.
Marshall and his then-partner Terry Kilpatrick formed Barnes Crossing in 2010, when they bought their first dealership in Tupelo. The group, now owned by Marshall, has dealerships in Alabama, Louisiana, North Carolina and Tennessee, Marshall said.
Paul Kechnie and Mark Shackelford, the Texas and Midwest partners for Performance Brokerage Services, a buy-sell firm in Irvine, Calif., facilitated the transaction.