Morrie's expands into Michigan, buys two Ford dealerships

Morrie's Auto Group has entered its third state, buying two Michigan Ford dealerships from dealer Barry Merrill.

Morrie's of Minnetonka, Minn., on Monday purchased Grand Ledge Ford-Lincoln and Merrill Okemos Ford, both in the suburbs of Lansing, Michigan's capital city. The stores will be renamed Morrie's Grand Ledge Ford-Lincoln and Morrie's Okemos Ford.

Merrill owned the Grand Ledge store for nearly two decades, while he bought the Okemos store in 2017, according to the Grand Ledge store's website.

"This acquisition will provide a strong foothold in a new market as we continue to grow and acquire additional stores across the Midwest," Morrie's CEO Lance Iserman said in a statement. "Both dealerships share a similar approach to Morrie's, with a customer-friendly, best-price sales process and a focus on customer experience."

The acquisitions follow Morrie's in February buying six Wisconsin dealerships, as the company bought a majority interest in Brenengen Auto Group of West Salem, Wis.

Morrie's has now added 12 dealerships since 2016, including opening two open points. Morrie's represents 23 brands, with locations in Minnesota, Wisconsin and Michigan.

Iserman told Automotive News that the Michigan stores fit its preferred footprint, which is the Upper Midwest. He wrote in an email that Morrie's "will continue to look for expansion opportunities" in that region including in Michigan.

Morrie's is owned by management and Fremont Private Holdings, the investment arm of the Fremont Group family investment office for the Bechtel family. Fremont bought its stake in the dealership group in 2016 from longtime dealer Morrie Wagener.

Morrie's ranks No. 101 on Automotive News' latest list of the top 150 dealership groups based in the U.S., retailing 8,851 new-vehicles in 2020.

The Presidio Group, a Denver- and Atlanta-based investment banking and advisory firm, represented Merrill in the sale to Morrie's, Iserman said.