New England dealer David Rosenberg has purchased two more dealerships, bringing his count to six rooftops in three states.
Rosenberg said he and partner Bob Ramos purchased Rockingham Toyota and Rockingham Honda in Salem, N.H., on Nov. 1 from dealer Emmett Horgan and his son Ryan Horgan.
Ramos is general manager and an owner of both stores, which were renamed Canobie Lake Toyota and Canobie Lake Honda, Rosenberg said.
“I’m really excited. I’ve known the seller since I was a kid,” Rosenberg told Automotive News. “I’m thrilled to be able to make people who make me successful, make them dealers themselves.”
Rosenberg is the former CEO of Prime Automotive Group, one of the largest dealership groups in the country. Prime’s majority owner, GPB Capital Holdings, fired him in September 2019. Rosenberg and Rosenberg family trusts in July 2019 sued GPB, alleging it failed to pay them after they exercised an option in April that year to sell their stake in the dealership group.
This month, GPB agreed to pay Rosenberg $30 million to settle the lawsuit.
Since leaving Prime, Rosenberg has been acquiring dealerships under his DSR Motor Group.
In late 2019, Rosenberg bought a Chevrolet-Cadillac store in Saco, Maine, and in fall 2020, he and Chris Konovalchik bought a Subaru store in White River Junction, Vt., from Prime.
In June this year, Rosenberg, with partners and brothers Rick Bickford and Mike Bickford, bought Tri-City Subaru and Tri-City Chrysler-Dodge-Jeep-Ram in Somersworth, N.H.
The sellers in the deal this month, in a farewell message posted on the Rockingham Toyota website, said: “We have been honored to be a part of the community for over 36 years, so it was a difficult decision for us to retire.”