California Chevrolet dealership changes hands
Dealer Joe Smith acquired his third General Motors dealership last month with the purchase of Paradise Chevrolet in Ventura, Calif., according to Performance Brokerage Services, which handled the transaction.
Smith bought the dealership Dec. 16 from Nancy Gregory, who retired, according to the buy-sell firm.
Ventura is located between Los Angeles and Santa Barbara, Calif.
Smith also owns two dealerships in Northern California: Folsom Buick-GMC and Epic Chevrolet-Cadillac of Sacramento, Performance Brokerage said.
Greiner Buick-GMC becomes Caposio Buick-GMC
The owner of a leading California Chevrolet store who just opened the first BrightDrop dealership has purchased the former Greiner Buick-GMC in Victorville, Calif.
A Nov. 30 Victorville Daily Press article, posted on the Greiner Buick-GMC Facebook page, reported former owner David Greiner sold the business that day to Mike Caposio, owner of Rotolo Chevrolet in Fontana.
A Dec. 17 HD Daily News story said Caposio’s partners in the Buick-GMC store are Eddie Allizadeh and General Manager Nick Thumar, which an employee at the dealership confirmed to Automotive News.
Greiner told the Daily Press it was a good time to sell because the auto industry continues to “change rapidly, which comes with a lot of uncertainty.”
Rotolo Chevrolet is a 2020 Chevrolet Dealer of the Year and the largest Chevy dealership in California, according to a news release from GM’s electric delivery van company BrightDrop.
BrightDrop announced last month that Caposio had opened the brand’s first dealership, BrightDrop Greater Los Angeles, in Fontana.
Mercedes-Benz dealership sold
Matt Burkholder sold his lone dealership, Mercedes-Benz of Medford in Oregon, in the fourth quarter, according to Mike Sims, president of Pinnacle Mergers & Acquisitions in Frisco, Texas.
Sims, who represented Burkholder in the transaction, said Michael Mann of Lancaster County Motors bought the dealership Nov. 3.
Lancaster County Motors is based in East Petersburg, Pa., according to its LinkedIn page. East Petersburg is west of Philadelphia.
Lancaster has five new-vehicle dealerships in Pennsylvania, including a Mercedes-Benz store, plus a used-vehicle dealership, according to its website. Mercedes-Benz of Medford is the only dealership in Oregon for the group, according to its website.
Burkholder had owned the dealership since 2014, according to a (Medford) Mail Tribune article.