Group 1 Automotive Inc. offered two Texas dealerships throughout the first quarter: Mini of El Paso and Cadillac of Arlington.
Frank Kent Motor Co., of Fort Worth, Texas, purchased the Cadillac retailer Jan. 11, stated Will Churchill, an proprietor of the Frank Kent group.
The retailer has been renamed Frank Kent Cadillac of Arlington. Terms of the transaction weren’t disclosed.
Churchill stated he agreed to build a brand new $20 million dealership, and the Cadillac retailer might be relocated in Arlington. He stated building ought to start this summer time, with a gap focused for June 2022.
“We understand Cadillac’s direction and have a lot of faith in the Cadillac brand,” stated Churchill, a former Cadillac National Dealer Council chairman.
Frank Kent dates to 1935, and the company has been a Cadillac seller since 1953. It has a Cadillac retailer in Fort Worth and a Chevrolet-Buick-GMC-Cadillac retailer in Corsicana, Texas. On Jan. 25, the group offered Frank Kent Chrysler-Dodge-Jeep-Ram and Frank Kent Chevrolet in Ennis, Texas, to Gilchrist Automotive.
In mid-January, Garcia Automotive Group of Albuquerque, N.M., bought Mini of El Paso, Michael Calderon, the shop’s supervisor, informed Automotive News.
Garcia Automotive additionally has a Jaguar-Land Rover retailer in El Paso and a mixture of manufacturers in its portfolio, from Mercedes-Benz and Cadillac to Subaru and Volkswagen.
Group 1 stated (*1*) that the Mini and Cadillac shops generated about $40 million in revenues over the previous 12 months.
Group 1, of Houston, has a predominance of dealerships in Texas. The company stated 40 p.c of its first-quarter whole new-vehicle gross sales stemmed from the state.
It ranks No. 4 on Automotive News‘ checklist of the highest 150 dealership teams based mostly within the U.S., retailing 140,221 new automobiles in 2020.
David Muller of Automotive News contributed to this report.