“We just don’t understand why Subaru of New England wouldn’t readily approve the transaction,” said DeLongchamps, Group 1’s senior vice president of manufacturer relations, financial services and public affairs.
Prime Automotive continues to operate the Subaru dealership.
The Prime group sold its second-to-last dealership this month: a Toyota store in Lancaster, Mass., in a planned deal previously reported by Automotive News.
DeLongchamps previously told Automotive News that Group 1 came to an agreement with Toyota to remove one of two Toyota dealerships initially in its Prime acquisition because it would have had too many stores in one geographic region with the brand.
On Dec. 7, dealer Kurt Koch bought Prime Toyota Route 2, Prime confirmed to Automotive News. The store was renamed Koch Rt 2 Toyota.
Group 1 of Houston ranks No. 4 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 140,221 new vehicles in 2020.
Jefferies brokered the Koch-Prime transaction.
