Dealership buy-sell moves from Md. to Calif. to Wisc.

Asbury Automotive Group has sold Kia of Owings Mills in Maryland and its related real estate to Stivers Automotive Group, according to a news release from The Presidio Group, which advised Presidio on the transaction.

With this move, Asbury continues its portfolio management efforts aimed at concentrating its resources on core business and key expansion opportunities. Meanwhile, the purchase represents Stivers’ first Kia store and gives it a footprint in the Mid-Atlantic.

“Kia has built an impressive product lineup and continues to strengthen its position with consumers, making this an attractive opportunity for our organization,” said Eddie Stivers, vice president of Stivers Automotive Group, in a news release.

“As we expand beyond our traditional brands and region, Kia of Owings Mills gives us an established foothold in a new market that we look forward to building upon. We appreciate the confidence Asbury and Presidio placed in us and commend Presidio for its top-notch professionalism and expertise, which was on display once again in this transaction.”

Asbury CEO Dan Clara added, “Consistent with our long-term value creation strategy, we continually evaluate our portfolio to ensure we are investing where we can best serve our shareholders, team members and guests.

“The decision to divest any dealership is not made lightly. We appreciate the guidance of the Presidio team in identifying the right buyer, and we are confident Stivers will be an excellent steward for the Kia of Owings Mills team.”

Hendrick sells VW store in Calif.

Elsewhere, Hendrick Automotive Group has sold its Volkswagen of Murrieta store in California and related real estate to Spreen Automotive Group. Presidio advised Hendrick in the deal.

“Presidio understood our culture and how important it was to find a buyer who shares our commitment to employees, customers and the community,” Hendrick Automotive Group president Jeffrey Brown said in a news release . “Their extensive relationships across automotive retail helped connect two likeminded organizations and made the process work well for everyone involved.

“Spreen is gaining an outstanding team at Volkswagen of Murrieta, and we’re grateful for the hard work and dedication that have made the dealership so successful. We appreciate Presidio’s professionalism, care and collaboration throughout the transaction.”

For Spreen, the deal adds the VW brand to its portfolio and adds to is existing presence in Southern California.

“With Volkswagen’s loyal customer base and a future we are optimistic about, we are excited to add the brand and this established operation in an attractive market to our growing portfolio,” Spreen Automotive Group CEO Jeff Spreen said in a release.

“We look forward to building on the dealership’s success and welcoming its employees and customers into the Spreen organization. We appreciate the expertise Presidio provided throughout the transaction process.”

Symdon finds ‘Home Run’ in purchase of Chevy store

The Brewers aren’t the only ones finding “Home Runs” in Wisconsin.

Symdon Auto Group has purchased Broadhead Chevrolet from Home Run Auto Group, according to Mach10 Automotive, which advised on the sale.

“Had Caitlin McMurray from Mach10 Automotive not reached out to us, it is unlikely we would have had the opportunity to acquire Brodhead Chevrolet,” Ryan Symdon said in a news release. “Our family had discussed expanding our operation for some time, but we did not believe acquiring Brodhead was an option. Caitlin’s timing was perfect.

“With the existing stores in our group, the acquisition makes tremendous strategic sense for us. We can leverage our business office and infrastructure across both stores while continuing Chevrolet’s long-standing presence in the Brodhead community. We are excited about the opportunity to build on that history and continue serving the community with the level of service for which our organization is known.”

Home Run Auto Group co-owner Jim Bozich said: “The sale of Brodhead Chevrolet was part of a strategic alignment of the brands we represent in our portfolio. We’re pleased that the Symdon Auto Group ended up as the buyer. We are confident they will continue to support the community and will service the local Chevy customers in the manner they deserve. We are also very pleased with how Mach10 facilitated the sale. They did exactly what they said they would. They were diligent and exceeded our expectations at every level. Kudos to Caitlin, Billy, and the Mach10 Team for all their efforts in facilitating the sale to our satisfaction.”