3 dealership groups, which includes the increasing Hudson Automotive Team, have acquired stores in Alabama and Louisiana in deals that closed in the second quarter.
This is a quick glimpse at the transactions involving domestic and import model stores.
Hudson Automotive, of Charleston, S.C., obtained its initially dealership in Alabama on Monday when it acquired Hoover Toyota, found south of Birmingham. The group acquired the dealership from Gordie Stewart, who experienced owned it for 22 yrs, the Hoover Sunlight noted.
“It really is a terrific model, and Birmingham is a terrific market,” David Hudson, CEO of Hudson Automotive, instructed Automotive Information. “We like Toyota a great deal.”
This is the group’s thirty third rooftop, Hudson claimed, which includes a employed-car or truck keep. Hudson Automotive also has dealerships in Tennessee, Kentucky, South Carolina, North Carolina, Louisiana, Georgia and Ohio. Hoover Toyota was the group’s initially transaction considering the fact that November, when it obtained Beaman Automotive Team, designed up of 4 dealerships in the Nashville place, Hudson claimed. Gerrick Wilkins of Seller Assist Community represented Hudson Automotive in the transaction.
TKO Team of Brunswick, Ga., obtained its initially Ford dealership and second Toyota keep when it acquired Courtesy Ford and Courtesy Toyota, equally in Morgan City, La., on June one.
TKO acquired the dealerships from Don Hargroder of Courtesy Automotive Team. The dealerships have been renamed Toyota of Morgan City and Ford of Morgan City. The group now has seven dealerships, CEO Travis Ostrom claimed, with spots also in Georgia and North Carolina.
Bill Fields of Seller Alternatives Mergers and Acquisitions, a invest in-provide firm in Markham, Ontario, and with an business in Jupiter, Fla., represented the vendor in the transaction.