
Two quickly expanding dealership groups added to their store counts in the first and second quarters, while two other groups made single-store acquisitions in March and May.
Here’s a look at deals involving domestic, luxury and import dealerships and stores in Illinois, Nevada, New York and West Virginia.
Lou Fusz Automotive Network acquired its second Ford dealership with a purchase this month.
Lou Fusz Automotive Network, of St. Louis, on May 10 bought Tri Ford Inc. in Highland, Ill., from Monica Rehkemper.
The dealership was renamed Lou Fusz Ford of Highland. Highland is northeast of St. Louis.
Randy Fusz, the group’s CEO, said the Ford acquisition follows the group buying a powersports store, also in Illinois, about six months ago.
It had been more than 20 years since the group’s last new-vehicle dealership acquisition, Fusz estimated. But the group, which Fusz runs with his four siblings, is looking to expand.
The group has 10 franchised rooftops and two used-vehicle dealerships in the greater St. Louis market, according to its website.
“We are actively looking,” Fusz told Automotive News. “My brothers and I feel, for us, kind of doubling our footprint in the next 10 years is our goal.”
Corwin Automotive Group of Fargo, N.D., is continuing its growth, in April buying a Buick-GMC-Cadillac dealership in Nevada.
Corwin Automotive on April 12 purchased Reno Buick-GMC-Cadillac from Arne Hoel and Ken Schofield, according to National Business Brokers, a buy-sell firm in Irvine, Calif. The firm’s Brady Schmidt and Gary Mull handled the transaction.
The buyer renamed the dealership Corwin Buick-GMC-Cadillac Reno.
The Corwin group already had a presence in the city. In 2020, it bought Jones West Ford in Reno.
“We’re always looking to expand in current markets we’re in,” Corwin Automotive CFO Dan Wilson told Automotive News, adding that Reno is a good car market.
Corwin Automotive also has been growing in other states. In March, it acquired a pair of Toyota stores in Colorado Springs and Boulder, Colo., from public auto retailer Asbury Automotive Group Inc. In December, Corwin Automotive and Jeff McConville bought Republic Ford-Lincoln in Missouri. And in October, the group bought Gus Johnson Ford in Spokane Valley, Wash.
Corwin has 17 franchised dealerships across eight states, Wilson said. In addition to Nevada, Colorado, Missouri and Washington, the group also has dealerships in North Dakota, Nebraska, Montana and Idaho.
Megadealer group PSD Automotive Group of Bridgewater, N.J., in January bought Audi and Volkswagen dealerships in Mohegan Lake, N.Y., around 50 miles north of New York City, from retiring dealer Barry Rost and the Rost family.
The dealerships are located a few doors down from one another, broker Anthony Assalone said. Assalone is managing member of United Galaxy Associates in Briarcliff Manor, N.Y. He handled the Jan. 24 transaction.
Barry Rost acquired the Volkswagen store in 1988. He was awarded a service-only point by Audi in 1995, which became a full-service Audi dealership two years later, Assalone said.
The dealerships retained their names.
PSD Automotive is led by Patrick Dibre, CEO and dealer principal. His group has more than 30 dealerships, Assalone said.
PSD Automotive has made other recent acquisitions in the Northeast. In January, the group bought Lexus and Chevrolet dealerships in East Haven, Conn. In May 2021, PSD Automotive bought Chevrolet and Mazda stores in Hamden, Conn. All four dealerships are in the New Haven, Conn., metropolitan area.
Stephens Automotive Group on March 30 purchased Pantili Mitsubishi in Princeton, W.Va., from William Pantili, owner of Bilco Inc., according to Richard Stephens, owner of Stephens Automotive.
Stephens Automotive of Danville, W.Va., renamed the dealership Stephens Mitsubishi. In an interview with Automotive News, Stephens said the group purchased the dealership to expand its presence in the area.
The group also sells Ford, Chrysler, Dodge, Jeep and Ram vehicles in Danville and has a used-vehicle dealership in Beckley, W.Va.
Stephens said his company is planning to make some physical changes to the Mitsubishi facility, but kept almost all the employees and added four people.
“We brought in more inventories than the dealership had recently been stocking and tried to pump up the inventory so that we could try to enjoy some additional sales there to expand that business,” Stephens said.