Dealer adds Indiana store to portfolio

Chuck Holder expanded his dealership portfolio with the Dec. 16 purchase of Harding Ford-Chrysler-Dodge-Jeep-Ram in Madison, Ind., from Andrea Farrell of Farrell Automotive Group, according to Hal Feder, managing director of Murphy Business & Financial Corp. in Williamsburg, Va., who facilitated the transaction.

Holder renamed the dealership Madison Ford-Chrysler-Dodge-Jeep-Ram. The Madison management team stayed in place, Feder said.

The southern Indiana city along the Ohio River is just across the Kentucky border.

“It’s actually the second time I’ve sold that store,” Feder told Automotive News. “I sold it to the seller.”

Farrell bought the dealership — her first — from Kevin McCubbin in February 2021, according to Feder.

“She wanted to be closer to family in the Gulf States area,” Feder said.

Holder now owns two stores. He sold a Chrysler-Dodge-Jeep-Ram store in Fulton, Mo., to Kevin McGrath and Mike McGrath Jr. of McGrath Imports of Chicago.

He stills owns a Ford store in Fulton with his son, Jameson Holder, Feder said.

Kody Holdings expands into Virginia, adds Toyota dealership

Kody Holdings, with 12 new-car dealerships in Maryland, added its first store outside of the state in November when it bought the former Jack Taylor’s Alexandria Toyota in Virginia.

Kody Holdings is based in Waldorf, Md., about 30 miles south of Washington, D.C. Its renamed Toyota of Alexandria dealership is across the Virginia state line, but it’s in the same general region, just outside of Washington.

“It’s a strong market and a strong brand,” said Mike Cellini, CFO for Kody Holdings.

“We have been trying to get in the market for a while, but we were really not out there buying up stores,” Cellini said in a phone interview. “It came up, and it was the right fit.”

Toyota of Alexandria is the group’s second Toyota dealership. The first is Waldorf Toyota, which the group acquired in 2015. Tom Kody is dealer principal and president of the group.

The Alexandria dealership was in business for 36 years, according to real estate services firm Cushman & Wakefield Dealership Capital Services.

Cushman & Wakefield represented Jack Taylor, dealer principal, and his son John Taylor, who was general manager and a minority shareholder, in the Nov. 21 transaction, according to James Mitchell. He worked on the transaction along with Erin Rice.

The father-and-son team didn’t own any other dealerships, said Mitchell, formerly with Cushman & Wakefield. He joined real estate firm CBRE as executive vice president of Dealership Capital Services in January.

Source link

By Admin

Leave a Reply

Your email address will not be published. Required fields are marked *