Auto retail investment company Open Road Capital and Rinaldi Halim on Dec. 19 bought an iconic Chevrolet dealership in California — known for its sign featuring Felix the Cat.
Open Road and Halim bought Felix Chevrolet in Los Angeles, a dealership dating back to 1921, from owners Darryl Holter and his wife, Carole Shammas, Tim Batchelor, an Open Road Capital partner, confirmed to Automotive News.
Open Road and Halim retained the store’s long-standing name, Batchelor said.
Halim told Automotive News that he is friends with the sellers, and they felt comfortable selling the store to him. He called the dealership “more than just a business.”
Open Road first partnered with Halim in late 2021, buying a majority stake in three Monrovia, Calif., dealerships and buying a majority stake in Halim’s two other Stellantis dealerships in California. One of those stores is the Chrysler-Dodge-Jeep-Ram store in downtown Los Angeles, just blocks away from Felix Chevrolet.
Halim said having the ability to buy the iconic Felix Chevrolet store just blocks away from his Stellantis store was “really meaningful.”
Holter in 2017 sold his downtown Los Angeles Group dealerships to Lithia Motors Inc. but kept Felix Chevrolet because of its storied history. Holter said his father-in-law bought the dealership in 1955.
Holter helped to rejuvenate the historic auto row on Figueroa Street, creating a business improvement district that has featured several new builds of auto dealerships and other redevelopment near the USC campus.
It was through the neighborhood that Holter met Halim.
“I liked his approach, and he understood what I was talking about when I talked about the legacy of the auto row on Figueroa,” Holter said.
The site, still owned by Holter and Shammas, features a new four-story service and parts building.
“We kept the historic showroom in place. We kept the historic sign in place,” Holter said. “But we built everything new behind it.”
