Tasca Automotive buys 4 car dealerships in 3 states

Tasca Automotive Group of Cranston, R.I., entered two states and added a brand to its portfolio with two fourth-quarter and two first-quarter deals.

In its most recent acquisition, the group bought a Stellantis store in New York.

Tasca Automotive on Feb. 28 bought Central Avenue Chrysler-Jeep-Dodge-Ram in Yonkers, north of New York City, said Carl Tasca Jr., one of the group's owners.

Jonathan Grant and Daniel Oliveri, both dealer principals of the store, and managing partner Jim Ingenito all stayed on with Tasca Automotive as partners, Tasca Jr. said in an email to Automotive News.

He said the auto retailer bought a majority stake in the dealership, while Grant, Oliveri and Ingenito retained ownership stakes. Specific percentages weren't disclosed.

The dealership's name remains.

Grant, along with two different partners, sold a majority stake in a Stellantis store in nearby White Plains, N.Y., to LMP Automotive Holdings Inc. in October 2021.

LMP also was supposed to acquire a majority stake in Central Avenue Chrysler-Jeep-Dodge-Ram in a deal that was announced in March 2021 but was later terminated.

LMP later sold the White Plains dealership to Tasca Automotive in October 2022.

In January, Tasca Automotive also bought a three-brand dealership, also in Yonkers.

The group on Jan. 24 bought Smith-Cairns, a Ford-Mazda-Subaru dealership, from Dwight McGuirk, Tasca Jr. said. The dealership was renamed Tasca Ford-Mazda-Subaru Yonkers.

It marks the first Subaru dealership for the group and third Mazda store.

"We've been looking at Subaru for awhile," Tasca Jr. told Automotive News in an interview. "It's a great brand."

Tasca Automotive also grew Dec. 16, when it bought into a Ford dealership in Missouri.

The group entered into a partnership with Todd Crossley, dealer principal of Gary Crossley Ford in Kansas City, Mo., and partner Terry Miller, who is vice president and general manager of the dealership.

Tasca Jr. declined to specify his group's ownership stake in that store.

"We partnered with the Crossley team with the intent of growing together throughout the Midwest," he said.

Missouri is a new state for Tasca Automotive, though it also has dealerships in Illinois.

The group on Dec. 5 bought Gibbons Ford in Dickson City, Pa., north of Scranton, from John Grow. That store was renamed Tasca Ford Dickson City.

Rob Lee, director of the Northeast region for buy-sell firm Tim Lamb Group in Columbus, Ohio, represented the seller in the transaction.

Tasca Automotive also has dealerships in Rhode Island, Connecticut, Florida and Massachusetts.

Tasca Jr., who owns the auto retailer with three of his cousins, said the family business, which is celebrating its 80th anniversary in 2023, continues to look for acquisitions and anticipates more growth this year.

The group has several dealerships under contract to close throughout 2023, he added.

"We should have a very busy year," Tasca Jr. said.