By EMILY SCOTT
Staff writer
BOARDMAN — Sweeney Chevrolet Buick GMC has agreed to sell its assets to No. 1 Cochran, a western Pennsylvania-based group of auto dealerships, a transaction that is expected to be closed in a month.
The transaction is pending formal approval by General Motors and is anticipated to close in mid-January.
“I’m confident that our community will embrace No. 1 Cochran much like they have the Sweeney brand over the past 100 years,” President Alexa Sweeney Blackann said. “They were interested in our business because of our strong market position and reputation in the Mahoning Valley. We’ve known Rob Cochran for decades and are confident his family-owned business will continue to build on the relationships we’ve established with our customers, employees and the community.”
The Boardman dealership will be #1 Cochran’s first in Ohio, and the Sweeney dealership will be its largest store.
Currently, No. 1 Cochran operates 30 new-vehicle franchises comprised of 19 domestic and imported brands. It employs nearly 1,300 people and has been voted a Pittsburgh “Top Workplace” 12 consecutive years by the Pittsburgh Post-Gazette.
“Cochran has a rich history with General Motors, as our first brand was Pontiac,” said Neil Jennings, vice president and CFO at No. 1 Cochran.
“As Sweeney is the largest GM dealer in Youngstown, Cochran is uniquely suited to carrying the torch for our Chevrolet and Buick GMC dealerships.”
Sweeney employees are not anticipated to be affected by the ownership transition. Jennings said the company is expecting to continue with the same team that currently works at Sweeney.
Last month, Ken Ganley Automotive group acquired Taylor Kia’s locations in Boardman and Alliance. Documents from the secretary of state’s website show the transaction was finalized Nov. 10, although the process began in early August.
Ken Ganley also has Kia dealerships in Mentor and Medina. The auto group has 50 locations in Ohio, Pennsylvania and Florida and employs 2,700 workers.
escott@tribtoday.com
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