Matthews Auto Group has purchased five New York dealerships from the Fuccillo Automotive Group, gaining its first Hyundai location and growing its store count to 13.
Matthews, of Vestal, N.Y., and with stores in New York and Pennsylvania, said this week that it bought three dealerships in the Syracuse area and two in the Rochester area from Fuccillo. The acquisition involves two Kia dealerships, two Hyundai dealerships and a Nissan dealership.
Matthews, a family-owned dealership group dating to 1973, will add about 300 employees. The purchase price wasn’t disclosed but included inventory, buildings, property and parts. The dealerships are being rebranded under the Matthews name.
“Fuccillo is an impressive operation with a great team who has sold tens of thousands of vehicles,” Rob Matthews, president of the dealership group, said in a statement. “We jumped at this unique opportunity when it was presented to us. Although there is tremendous uncertainty out there due to the pandemic, I have the upmost confidence in our team and our operation to make this a smooth transition for our new customers and our new employees.”
Fuccillo management did not immediately respond to requests for comment. The group has 22 dealerships in New York and Florida, according to its website.
Fuccillo also agreed in September to sell two Kia stores in Florida to publicly traded LMP Automotive Holdings Inc. LMP said then that it would pay $36 million for Kia dealerships in Port Charlotte and Cape Coral, plus $33 million in real estate.
LMP has said that deal was on track to close this month.