A publicly traded auto retailer sold a dealership in Texas in April, while three other regional groups made first- and second-quarter acquisitions.
Here's a look at the deals involving luxury, domestic and import stores in Texas, Indiana, Wisconsin and Colorado.
Two transactions involved an auto retailer ranked on Automotive News' list of the top 150 dealership groups.
Sonic sells Maserati-Alfa Romeo store
Chip Johnson and Brady Bishop, partners in a dealership near Kansas City, Mo., bought a Maserati-Alfa Romeo store from Sonic Automotive Inc. last month.
On April 3, Johnson and Bishop bought Momentum Maserati-Alfa Romeo in Hurst, Texas, northeast of Fort Worth, Johnson told Automotive News.
The dealership was renamed Bishop Maserati-Alfa Romeo of Hurst.
"These are some higher-margin brands," Johnson told Automotive News. "They had a solid used-car business."
Bill Scrivner, CEO of Pinnacle Mergers & Acquisitions, of Frisco, Texas, along with Wes Hamilton, executive vice president of the buy-sell firm, represented Sonic in the transaction.
Johnson is president of Wood Motor Co. in Fayetteville, Ark. He said he and Bishop are partners in a Nissan store in Lee's Summit, Mo., southeast of Kansas City, which Wood Motor bought in August 2021. Wood Motor bought two Missouri dealerships in December 2021.
Sonic ranks No. 6 on Automotive News' list of the top 150 dealership groups based in the U.S., with sales of 101,168 new vehicles in 2022.