Skip to predominant exclaim
The Swickard Auto Group acquisition contains four luxurious stores and a Honda dealership in Southern California — and the workforce plans to snatch three more dealerships in the put early next year.
December 15, 2022 06:29 AM
The growing Swickard Auto Group, fresh off its August entrance into Southern California, bolstered its presence in that put with its Monday take hold of of 5 dealerships and it’s far slated to snatch three more from the identical seller early next year.
Swickard Auto, of Las Vegas, sold Acura of Thousand Oaks, Honda of Thousand Oaks, Jaguar-Land Rover Thousand Oaks, Mercedes-Benz of Thousand Oaks and Lexus of Thousand Oaks from AndersonAutos, a subsidiary of Anderson Holdings in Los Angeles, in step with George Karolis, president of Presidio Group, an investment banking and dealership advisory company in Denver and Atlanta. Presidio Group represented Anderson Holdings in the transaction.
AndersonAutos’ three closing dealerships, made up of Cadillac, Chevrolet and Buick-GMC stores, are set apart to be sold to Swickard Auto in the first quarter of 2023, Karolis stated. Those three dealerships are moreover in Thousand Oaks, which is west of Los Angeles.
The JLR, Mercedes-Benz and Lexus dealership names remain, whereas the different dealerships were renamed Swickard Acura of Thousand Oaks and Swickard Honda of Thousand Oaks, in step with Greg Gates, Swickard’s vice president of alternate transformation. The Mercedes-Benz dealership, which solutions a Sprinter franchise, moreover has a proper AMG showroom.
The acquisition is Swickard’s first because it sold a 90 p.c stake in John Elway’s Crown Toyota in Ontario, Calif., in August, Gates stated.
It marks the first Acura dealership for Swickard, Gates stated, whereas the workforce now has two dealerships every of Honda, Lexus and Jaguar, three Land Rover stores and 5 Mercedes-Benz dealerships.
“They’re brands that we no doubt relish and we price the partnership with,” Gates told Car news. “We’re consistently shopping for alternatives. With the opportunity to grow in Southern California, we felt relish it became a grand match.”
Swickard Auto, which moreover expanded its footprint with an Alaskan acquisition in July, moreover has dealerships in Northern California, Washington, Oregon and Texas.
Swickard moreover has been awarded an birth point for a Mercedes-Benz dealership in Austin, Texas. That store, Mercedes-Benz of South Austin, is set apart to birth in the fourth quarter of next year, Gates stated.