Two of the largest privately owned auto retailers in the U.S. expanded with second- and third-quarter acquisitions, while a pair of Northeast dealership groups also grew in existing markets.
Here's a look at the deals involving import, domestic and luxury brand stores in Missouri, Kansas, New York and Connecticut.
Two transactions involved an auto retailer ranked on Automotive News' list of the top 150 dealership groups.
Dealership Buy-Sell: This Automotive News feature lists dealership acquisitions as reported by brokers, news media and official announcements. See our list of buy-sells and submit details of your deals here.Florida's Ed Morse Automotive Group continued its Midwest expansion with the purchase of a Kia dealership in Missouri, its first store of the Korean brand, which has become increasingly popular among dealership buyers.
Ed Morse Automotive on Aug. 28 bought Kingdom Kia in Rolla, Mo., from Lawrence West Jr. and the West family, Ed Morse CEO Teddy Morse confirmed.
The dealership was renamed Ed Morse Kia Rolla.
"It's always exciting to add a new brand, especially one like Kia with the success they've had," Morse told Automotive News.
Ed Morse Automotive has been on an acquisition tear in the Midwest.
In May, it bought three Illinois dealerships in two acquisitions. In February, the group bought a Chevrolet dealership in Missouri, a state Ed Morse Automotive entered in May 2021. Ed Morse already had one dealership in Rolla before the Kia acquisition.
"When this opportunity presented itself, it fit right into our plan with what we're doing in Missouri, trying to grow our presence in that state," Morse said.
Ed Morse also has dealerships in Iowa, a state it entered in March 2022.
The growing auto retailer also expanded its motorcycle and powersports offerings. In June, Ed Morse Automotive bought a Harley-Davidson dealership and a powersports store, both in western Colorado.
Jim Duffy and Robert Turbyfill, managing directors of DCG Acquisitions, a Dave Cantin Group company, represented buyer and seller in the Kia transaction.
Ed Morse Automotive, of Delray Beach, Fla., ranks No. 52 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 14,832 new vehicles in 2022.
Dealer Brandon Steven, who has several dealerships in the Los Angeles area, added to his dealership group's footprint in its base of Wichita, Kan., with the purchase of two dealerships from the estate of his late third cousin, Mike Steven.
Brandon Steven Motors now has about 15 new-car and three used-only dealerships — with about half of those franchised stores in Wichita — following the May 16 acquisition of Steven Infiniti and Mike Steven Volkswagen. Mike Steven died in November 2022.
Brandon Steven Motors renamed those stores Eddy's Infiniti and Eddy's Volkswagen of Wichita.
Brandon Steven, co-owner and dealer principal for Brandon Steven Motors, said in a phone interview that he has bought four dealerships in Wichita from Mike Steven over the last several years.
The names for the newly acquired dealerships refer to Eddy Steven, who died in 2012. Eddy Steven launched the family into the auto retail business in 1960, first with used cars, according to Brandon Steven. He said the family business added its first new-car dealership in 2004 with Subaru of Wichita.
Eddy Steven was Mike Steven's father and a cousin of Brandon Steven's father, Rod Steven Sr.
Brandon Steven said he renamed the Wichita dealerships after Eddy Steven because the brand name Eddy's was already familiar in Wichita.
Brandon Steven Motors also expanded its footprint in California, adding three dealerships last year through acquisitions.
Brandon Steven Motors ranks No. 89 on Automotive News' list of the top 150 dealership groups in the U.S., retailing 10,131 new vehicles in 2022.
Fast-growing Tasca Automotive Group, an active dealership buyer in 2022 and 2023, bolstered its New York presence with second- and third-quarter purchases.
Tasca Automotive, of Cranston, R.I., bought Scarsdale Ford from Robert Knapp on Aug. 1, Carl Tasca Jr., one of the group's owners, confirmed to Automotive News. The dealership's name remains.
Scarsdale is north of New York City and south of White Plains. In January, Tasca Automotive bought a Ford-Mazda-Subaru store in nearby Yonkers.
"Strategically, we have the Ford store in Yonkers now and now we have that store closer to White Plains," Tasca Jr. told Automotive News. "It just gives us a little more breadth to the New York platform."
On May 30, Tasca Automotive bought Central Avenue Hyundai in Hartsdale, next to Scarsdale, from partners Jonathan Grant and Patrick Monninger, Tasca Jr. said.
The dealership was renamed Tasca Central Avenue Hyundai. It marks the first Hyundai store for the group, Tasca Jr. said.
In February, Tasca Automotive bought a Chrysler-Dodge-Jeep-Ram dealership from Grant and two other partners. Tasca Automotive in April also bought a Chrysler-Dodge-Jeep-Ram-Fiat in Kingston, N.Y.
Colonial Auto Group in Danbury, Conn., on June 1 added three dealerships in Plainfield, Conn., buying Central Hyundai, Central Volkswagen and Central Mazda from David Cartwright of Central Auto Group.
Cartwright also owned a Ford dealership, which was paired with Mazda. Cartwright accepted a buyout from Ford before the sale, so the Ford franchise was not part of the transaction, said Peter DiPersia, senior vice president of the Northeast for National Business Brokers, a buy-sell firm in Irvine, Calif. DiPersia said he worked with both parties in the transaction. Cartwright declined to comment.
Colonial Auto brothers and co-owners are David and Darren Beylouni, president and vice president, respectively. David Beylouni is dealer principal.
With the three dealerships in Plainfield, the group now has eight stores: three in Danbury, in western Connecticut; three in Plainfield, in the eastern part of the state; and one each in New York state and New Hampshire, David Beylouni said.
The buyers use the Colonial brand name on their dealerships in Danbury, but they said they decided to keep the Central name on the Plainfield dealerships, since it's a recognized brand in the local market.
The Plainfield dealerships, which retain their names, fit into the group's portfolio of brands — Volkswagen and Hyundai are new to the group — but Mazda is familiar, he said. The group also includes three Subaru dealerships.
"We are very interested in doing business with Hyundai," David Beylouni said in a phone interview. "We've seen the success some of our competitors have had with it. And we already have Mazda in Danbury and we like that brand very much. Volkswagen has a very interesting portfolio, especially EVs."
In the same interview, Darren Beylouni said the brothers had known the selling dealer for years.
"One of the reasons we chose this group was it was a very well-run family organization," Darren Beylouni said. "And that's what we consider ourselves. We are a family organization."
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