Two dealership groups expanded their portfolios with acquisitions in the third quarter, while one transaction included first-time dealers.
Here's a look at three transactions involving domestic- and import-brand stores. One deal involved an Automotive News top 150 dealership group.
Ken Garff Automotive Group has entered a new state and added a new brand to its portfolio with its latest dealership acquisition.
Ken Garff bought Earnhardt Kia in Phoenix on Aug. 9 from Earnhardt Auto Centers. The dealership has been renamed Ken Garff Kia.
"We have been interested for some time in expanding our dealership footprint into the Arizona market and are thrilled to now be present through this acquisition," John Garff, CEO of parent company Ken Garff Enterprises Inc., said in a release.
Ken Garff now has 52 dealerships across Arizona, California, Iowa, Michigan, Nevada, Texas and Utah.
"The Kia brand is consistently recognized for its outstanding value, and we are proud to add this dealership into our Ken Garff family so we can continue to provide the highest quality of service to customers throughout the greater Phoenix area," said Brett Hopkins, CEO of Ken Garff Automotive Group, in a statement.
The Kia acquisition is the group's first purchase since it bought Lexus of Oxnard from Lithia Motors Inc. in November 2020.
Ken Garff Automotive Group ranks No. 9 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 53,687 new vehicles in 2020.