Zeigler Auto Group purchased Elhart Automotive, of Holland, Mich., the company said, acquiring its first Kia dealership in a deal that expands the auto retailer further in the Midwest.
The deal also included franchises for Nissan, Hyundai and GMC, plus a collision shop and one used-only store. The acquisition grows the Kalamazoo, Mich., group in the state. The deal closed Wednesday.
"To us this isn't just another acquisition, this is an opportunity to continue a family tradition and carry on a legacy that the Elhart family started nearly six decades ago," Aaron Zeigler, the group's president, said in a statement.
Upgrades are slated for the new facilities, which span five buildings.
The Kia and Nissan stores are under one roof but have separate entrances. Also included in the deal is a Caliber Collision store, in a building that Elhart had leased. Zeigler Auto Group will continue to lease that building, Zeigler said.
He told Automotive News that he plans to raze the used-only store and build a new Hyundai dealership there. The goal, Zeigler said, is to have standalone stores for all four brands.
In the meantime, the dealerships, renamed Zeigler Nissan-Kia of Holland, Zeigler Hyundai of Holland and Zeigler GMC of Holland, will continue to operate across the three buildings.
Zeigler Auto is one of the largest privately owned dealer groups in the U.S., operating new-vehicle dealerships in Wisconsin, Illinois, Indiana and Michigan. It also owns three Byrider used-vehicle stores, a pre-owned store in Berwyn, Ill., and a motorsports store in Kalamazoo.
The group is actively seeking acquisitions, Zeigler said, having not purchased stores since July 2021 when it bought dealerships from Home Run Auto Group in Wisconsin.
"This is the longest we've gone without buying something," Zeigler said, adding that there were few viable opportunities for the group over the past two years.
Elhart Automotive's roughly 100 employees will stay on with Zeigler Auto. The Elhart family had operated the group since 1965. Jeff Elhart, a proponent of mental health awareness and suicide prevention programs, retired following the sale.
"auto" - Google News
July 15, 2023 at 12:56AM
https://ift.tt/hA34Wkr
Zeigler Auto adds 3 stores, including first Kia car dealership - Automotive News
"auto" - Google News
https://ift.tt/U75Wksc
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment