Automotive News - January 14, 2008 - (Page 30) 30 • JANUARY 14, 2008 Group 1 buys luxury, imports Ryan Beene rbeene@crain.com Group 1 Automotive Inc. says its growth plan for 2008 includes the acquisition of import-brand and luxury dealerships. Last year the public dealership group acquired 14 luxury and import franchises in the United States and United Kingdom. They included five BMW franchises, four Mini franchises and three Mercedes-Benz franchises. Pete DeLongchamps, a Group 1 vice president, says the company ex- pects to acquire franchises this year, focusing on luxury and import brands. “In recent years, luxury dealerships have been providing better margins and returns,” he told Automotive News. “Our concentration is 75 percent luxury and import (franchises) to 25 percent domestic. The next stop is an 80-20 split. We have to invest where there is growth.” Group 1, of Houston, has 105 dealerships and ranks No. 4 on the Automotive News list of the top 125 dealership groups in the United States with retail sales of 129,198 new vehicles in 2006. Sales figures for 2007 were not available. c This Automotive News feature lists recent dealership acquisitions as reported by brokers, official announcements and news media. Group 1/Paul, Damante Buyer: Group 1 Automotive Inc. Sellers: Orval Paul and Angelo Damante Location: Escondido, Calif. Name: Mercedes-Benz of Escondido Group 1/Hayim Buyer: Group 1 Automotive Inc. Seller: Stuart Hayim Location: Amityville, N.Y. Name: Mercedes-Benz of Massapequa More: Group 1 expects the dealership to generate almost $160 million in annual revenue. Name: BMW of Columbia Group 1/Karangu Buyer: Group 1 Automotive Inc. Seller: David Karangu Location: Columbia, S.C. Old name: Ivory Volkswagen New name: Advantage Volkswagen Neuville/Spindt Buyer: Tim Neuville Sellers: Eric and John Spindt Location: Waupaca, Wis. Franchise: Chevrolet, Buick Old name: Waupaca Motor Sales New name: Neuville Motors More: Neuville will move the Chevrolet and Buick franchises to his Pontiac-GMC dealership in Waupaca. Group 1/Karangu Group 1/Karangu Buyer: Group 1 Automotive Inc. Seller: David Karangu Location: Columbia, S.C. Buyer: Group 1 Automotive Inc. Seller: David Karangu Location: Augusta, Ga. Name: Mercedes-Benz of Augusta Neuville/Stiebs Buyer: Tim Neuville Seller: Harold Stiebs Location: Waupaca, Wis. Franchise: Jeep Old name: Stiebs Jeep New name: Neuville Chrysler-DodgeJeep More: Neuville is moving the Jeep franchise, along with his Chrysler and Dodge franchises, to the previous Waupaca Motor Sales site. Smooth operator Last week, my team at the eLEAD CRM Call Center averaged 100,000 calls a day scheduling service and showroom appointments for busy dealers just like you. We’re the best in the Rydell Co./Moody Buyer: Rydell Co. Seller: Roger Moody Location: Fridley, Minn. Name: Friendly Chevrolet O’Brien/DeLon Buyer: Michael O’Brien Seller: Tom DeLon Location: Salem, Ore. Franchises: BMW, Honda, Mitsubishi, Volkswagen, Volvo Old name: DeLon Auto Center New names: BMW of Salem, Honda of Salem, Mitsubishi of Salem, Volkswagen of Salem, Volvo of Salem business and we’re backed by the strongest CRM software technology on the market–OURS! We make the appointments, you make the sales. The eLEAD CRM Call Center sells cars, guaranteed. Elder Automotive/Conyers Buyer: Elder Automotive Group Seller: Nate Conyers Location: Novi, Mich. Franchise: Jaguar Name: Jaguar of Novi More: Jaguar of Novi brings the number of dealerships owned by Irma Elder’s Elder Automotive Group to 11. Elder Automotive has Ford, Jaguar, Land Rover, Aston Martin, Lincoln-Mercury, Jeep and Saab dealerships, with eight Michigan stores and three near Tampa, Fla. (866) 450-5388 WeMakeYourCalls.com Visit us at NADA Booth #6425S (next to Ford Motor Company) Dealership Buy/Sell: We invite news items about dealership sales and acquisitions. Here’s what we need from you: Name of seller Name, city and state of buyer Name, city and state of dealership being sold, including name change Franchises involved Name of broker if applicable Size of dealership (annual unit sales or sales revenue) Transaction price if possible Any other relevant information Your telephone number or e-mail address E-mail items to: rjohnson@crain.com Or send them to: Dealership Buy/Sell Managing Editor Automotive News 1155 Gratiot Ave. Detroit, MI 48207-2997 http://www.WeMakeYourCalls.com http://www.WeMakeYourCalls.com
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.