Two of the largest dealership groups in the country expanded with first- and second-quarter acquisitions, while a business that is part of a company best known for owning the Minnesota Twins franchise in Major League Baseball also made a first-quarter purchase.
Here's a look at the deals involving import and domestic stores and dealerships in Tennessee, North Carolina, California and Wisconsin.
Three transactions involved a dealership ranked on Automotive News' list of the top 150 dealership groups.
Victory Automotive expands in Tenn., sells N.C. store
Victory Automotive Group made its first acquisition of 2023 with the purchase of two dealerships representing six brands last month.
Victory Automotive, of Canton, Mich., on April 17 bought Tim Castellaw Toyota of Dyersburg-Tim Castellaw Ford and Tim Castellaw Chrysler-Dodge-Jeep-Ram from Tim Castellaw, Rodger Olson, Victory Automotive's COO, confirmed to Automotive News in an email.
Dyersburg is in western Tennessee, near the Missouri and Arkansas borders.
The dealerships were renamed Victory Toyota-Ford Dyersburg and Victory Chrysler-Dodge-Jeep-Ram Dyersburg.
Katie Naughton and Eric Levitt of Dealer Solutions Mergers and Acquisitions, a buy-sell firm with a U.S. head office in Naples, Fla., represented Castellaw in the transaction.
The April transaction marks Victory Automotive's first acquisition since it bought a General Motors dealership, also in Tennessee, in December, Olson confirmed.
Victory Automotive also sold a dealership in the first quarter.
The group on Feb. 20 sold Victory Chrysler-Dodge-Jeep-Ram in Shallotte, N.C., to Brian Schrimpsher, Olson said.
The dealership name appears the same, according to its website. Shallotte is in southeastern North Carolina, near the South Carolina border.
The February sale marks Victory Automotive's first divestiture since it sold two California Ford dealerships in August, Olson confirmed.
Victory Automotive ranks No. 19 on Automotive News' most recent list of the top 150 dealership groups based in the U.S., retailing 28,535 new vehicles in 2022.