Expanding Morgan Auto Group of Tampa, Fla., has purchased a collection of seven luxury and import dealerships in Tampa, marking its largest acquisition yet based on number of stores.
Morgan Auto, one of the largest dealership groups in the country, on Tuesday bought Reeves Import Motorcars from Vivian Reeves, who retired, Morgan Auto CEO Brett Morgan said.
"For us this is the most meaningful acquisition that we've made, especially in the sense that it doubles the number of luxury rooftops," Morgan told Automotive News. "It's in our hometown. They're people we know in a market that we know very well. It takes us to 21 total rooftops in Tampa Bay."
Reeves Import Motorcars included Audi Tampa, Reeves BMW of Tampa, Land Rover Tampa, Maserati of Tampa, Porsche of Tampa, Reeves Subaru of Tampa and Reeves Volkswagen.
Audi, Porsche and Maserati are new brands for Morgan Auto. Acquiring those brands was a draw for the group, Morgan said, adding that buying luxury dealerships in Florida is challenging.