Stephen and Charlie Gilchrist of Gilchrist Automotive in Hudson Oaks, Texas, purchased 4 dealerships in three transactions this yr, together with the group’s first Honda retailer.
The first buy concerned Legend Driven Buick-GMC and Legend Driven Honda, each in Lawton, Okla., within the southern a part of the state. Gilchrist Automotive purchased the 2 shops Jan. 26 from Tim Allred of Rocky Mountain Yeti Automotive Group and renamed them SouthWest Buick-GMC and SouthWest Honda.
In September, Gilchrist Automotive bought a Toyota retailer in Lawton, which made the area enticing for this acquisition, co-owner Stephen Gilchrist instructed Automotive News.
“It makes sense to cluster stores in towns,” Stephen Gilchrist stated.
Gilchrist Automotive additionally bought Legend Driven Mazda in Lawton, now SouthWest Mazda, from Allred in a deal that closed April 11.
Renovations are underway on the Buick-GMC and Honda shops to evolve to model imaging pointers, Stephen Gilchrist stated.
Gilchrist Automotive is also integrating a few of its employees into the dealerships, with the objective of optimizing efficiency.
“Typically, we don’t buy stores that are performing well,” Stephen Gilchrist stated. “We have to figure out what we have there and what we need to bring in or upgrade.”
Also in January, Gilchrist Automotive purchased Stanley Ford Pilot Point, north of Dallas, from Stanley Auto Group. Hicks Management & Consulting Inc., a buy-sell agency in Arlington, Texas, facilitated the Jan. 31 transaction.
Source: www.autonews.com