As the second quarter came to a close, one dealership group expanded while another transaction involved a first-time dealer.
Here’s a quick look at the transactions involving domestic- and import-brand stores.
Oregon acquisition
Time Auto Group acquired its first Subaru and Honda dealerships on June 30 when it bought Klamath Falls Subaru and Klamath Falls Honda, in Oregon, from Underriner Motors.
The growing Time Auto of Portland, Ore., also owns Volvo Cars of Bend, in Oregon, as well as Beaverton Nissan and Gladstone Mitsubishi in suburban Portland. The group also includes D&C Motor Co., a used-vehicle dealership in Portland that specializes in European luxury brands. Klamath Falls is in southern Oregon.
“We’re looking to expand, especially in Oregon,” Time Auto CEO Daniel Crainic told Automotive News. “It’s close enough to us where it gives us a dynamic footprint.”
Time Auto’s two-store Klamath Falls acquisition follows its purchase of Beaverton Nissan in February, Volvo Cars of Bend in 2020 and Gladstone Mitsubishi in 2019. Each store will eventually be rebranded under the Time nomenclature, Crainic said.
“We’re looking to grow at a healthy speed as long as our balance sheet allows us to,” Crainic said.
George Pero and Joe Beaver of DCG Acquisitions, a Dave Cantin Group company, handled the latest transaction.
