Jeff Wyler Automotive Spouse and children Inc. of Milford, Ohio, has acquired 7 dealerships from Top-quality Automotive Group in its most significant-at any time acquisition, incorporating to its existence in the Buckeye State via many import brand names and its to start with Acura dealerships.
The transaction, which shut Thursday, was for 3 Hyundai dealerships, two Acura shops and Kia and Honda outlets: Excellent Acura in Fairfield, Excellent Honda in Cincinnati, Excellent Kia in Cincinnati, Remarkable Hyundai North in Fairfield, Superior Hyundai South in Cincinnati, Outstanding Acura of Dayton in Centerville and Remarkable Hyundai of Beavercreek, all in Ohio.
“We are thrilled to deliver these seven Excellent dealerships into the Jeff Wyler Automotive Loved ones. We know just one path — forward — as we continue on to grow and direct the current market not only in Cincinnati, but nationwide,” Jeff Wyler President David Wyler claimed in a assertion. “Our aim is to not only improve, but to also turn into additional buyer struggling with every calendar year and the addition of these dealerships implies an even bigger assortment of inventory for our consumers locally and throughout the U.S.”
The Jeff Wyler team now has 23 dealerships in Ohio, Kentucky and Indiana.
The dealerships were renamed Jeff Wyler Acura of Fairfield, Jeff Wyler Acura of Dayton, Jeff Wyler Hyundai of Fairfield, Jeff Wyler Superior Hyundai, Jeff Wyler Superior Honda, Jeff Wyler Hyundai of Beavercreek and Jeff Wyler Remarkable Kia.
A utilised-vehicle dealership, Mike Albert Sales & Company in Cincinnati, was not component of the transaction, claimed Kevin Frye, Jeff Wyler Automotive’s marketing director. Conditions of the transaction weren’t disclosed.
The acquisition would include about $400 million in annual profits and about 10,000 annual auto income, in accordance to a Cincinnati Small business Courier report.
Excellent Automotive, of Cincinnati, was founded in 1924, in accordance to Haig Companions, a obtain-sell company in Fort Lauderdale, Fla., which represented the vendor in the transaction. Kevin Nill and Alan Haig ended up brokers.
“I am content the Wylers are acquiring the stores as I know they will proceed to develop on the legacy our household has developed,” reported John Betagole, president of Superior Automotive, in a statement.
The transaction follows Jeff Wyler’s December order of Mercedes-Benz of Louisville in Kentucky.
Jeff Wyler Automotive ranks No. 38 on Automotive News‘ most latest listing of the top rated 150 dealership groups primarily based in the U.S., with 21,592 new-car retail gross sales in 2020. The group reported its new- and applied-motor vehicle income mixed topped 45,000 last year.