Jeff Wyler Automotive Loved ones Inc. of Milford, Ohio, has obtained 7 dealerships from Outstanding Automotive Group in its most significant-at any time acquisition, incorporating to its presence in the Buckeye Point out through quite a few import makes and its 1st Acura dealerships.
The transaction, which shut Thursday, was for a few Hyundai dealerships, two Acura outlets and Kia and Honda outlets: Excellent Acura in Fairfield, Excellent Honda in Cincinnati, Remarkable Kia in Cincinnati, Exceptional Hyundai North in Fairfield, Outstanding Hyundai South in Cincinnati, Superior Acura of Dayton in Centerville and Remarkable Hyundai of Beavercreek, all in Ohio.
“We are enthusiastic to deliver these 7 Outstanding dealerships into the Jeff Wyler Automotive Household. We know just one path — forward — as we continue on to expand and direct the sector not only in Cincinnati, but nationwide,” Jeff Wyler President David Wyler claimed in a statement. “Our aim is to not only grow, but to also grow to be extra consumer dealing with just about every calendar year and the addition of these dealerships implies an even much larger assortment of stock for our consumers regionally and across the U.S.”
The Jeff Wyler group now has 23 dealerships in Ohio, Kentucky and Indiana.
The dealerships had been renamed Jeff Wyler Acura of Fairfield, Jeff Wyler Acura of Dayton, Jeff Wyler Hyundai of Fairfield, Jeff Wyler Outstanding Hyundai, Jeff Wyler Top-quality Honda, Jeff Wyler Hyundai of Beavercreek and Jeff Wyler Superior Kia.
A used-auto dealership, Mike Albert Profits & Company in Cincinnati, was not part of the transaction, stated Kevin Frye, Jeff Wyler Automotive’s advertising and marketing director. Conditions of the transaction were not disclosed.
The acquisition would include about $400 million in yearly earnings and about 10,000 annual auto product sales, in accordance to a Cincinnati Business enterprise Courier report.
Excellent Automotive, of Cincinnati, was established in 1924, in accordance to Haig Partners, a get-promote company in Fort Lauderdale, Fla., which represented the vendor in the transaction. Kevin Nill and Alan Haig ended up brokers.
“I am happy the Wylers are acquiring the retailers as I know they will keep on to develop on the legacy our family has established,” mentioned John Betagole, president of Superior Automotive, in a statement.
The transaction follows Jeff Wyler’s December obtain of Mercedes-Benz of Louisville in Kentucky.
Jeff Wyler Automotive ranks No. 38 on Automotive News‘ most modern listing of the leading 150 dealership groups primarily based in the U.S., with 21,592 new-car retail gross sales in 2020. The team explained its new- and applied-car product sales put together topped 45,000 past year.