Four dealership groups — two in the Midwest and two in the South — expanded in the third quarter with single-store or two-store acquisitions.
Here’s a quick look at deals involving import- and domestic-brand stores. Two transactions involved an Automotive News‘ top 150 dealership group.
LaFontaine Automotive Group last month purchased its first Lincoln dealership — one it plans to relocate to a new facility about 25 miles away.
LaFontaine, of Highland, Mich., on July 30 bought Signature Lincoln in Owosso, Mich., from the Joe Falzon-owned Signature Auto Group. LaFontaine has temporarily moved the Lincoln franchise to its Ford store in nearby Flushing, Mich., while it builds a new store for the Lincoln outlet in nearby Genesee County’s Mundy Township.
“Lincoln has long been a brand we have been looking to add to our portfolio and are eager to capture the significant potential that exists with this acclaimed luxury brand,” LaFontaine CEO Ryan LaFontaine said in a statement.
LaFontaine spokesman Max Muncey told Automotive News that the company is not disclosing how much it will spend on the project, but said it expects construction to take about 18 months.
Signature retained its Ford dealership in Owosso where Lincoln had been located, Muncey said.
LaFontaine said Josh Sloan will oversee LaFontaine Lincoln. He also oversees the Ford store in Flushing and LaFontaine Ford of Birch Run, also in Michigan.
The growing LaFontaine group now has 27 Michigan locations including 46 franchises and 10 collision centers.
Last month, LaFontaine acquired Ralph Thayer Automotive’s three stores in Livonia, Mich., adding Hyundai, Mazda and Volkswagen outlets.
LaFontaine ranks No. 43 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 19,565 new vehicles in 2020.
Performance Brokerage Services handled the Signature transaction for LaFontaine.
