Three growing dealership groups expanded in existing markets in the second quarter, while megadealer Terry Taylor purchased a pair of stores with a partner in the first quarter.
Here's a look at the deals involving import and domestic brands and stores in Colorado, California, Ohio and Massachusetts.
Fowler expands in Colorado
Fowler Holding Co., of Norman, Okla., expanded its Colorado presence and bought its second Kia store with its latest acquisition.
The parent company of Fowler Automotive Group on June 20 bought Peak Kia North in Windsor, Colo., from Jeff Taylor, said Fowler President Jonathan Fowler.
The dealership was renamed Fowler Kia of Windsor. Windsor is north of Denver and south of Fort Collins.
"It's part of the I-25 corridor in that Northern Colorado market, which is just an amazing opportunity in terms of population growth, housing expansion and average incomes up there," Fowler told Automotive News. "The location was right from the start."
It marked the group's first acquisition since its December 2021 purchase of a Kia store in nearby Longmont, Fowler said.
The stores are a little more than 20 miles apart.
"It allowed us to really further secure our position as the top Kia dealer in Northern Colorado," Fowler said. "And it gives us an opportunity to better serve service customers because now we have more shop capacity, and we have an ability to get our customers to whichever store is closest to them where they live in that market. It really was a no-brainer for us."
The group now has 11 dealerships between Oklahoma and Colorado, Fowler said.
Jody Henderson of Dealer Solutions Mergers and Acquisitions, a buy-sell firm with a U.S. head office in Naples, Fla., represented the seller in the transaction.
