Morrie’s Auto Group Expands in Illinois
Morrie’s Auto Group has announced the acquisition of Mike Miller Auto Park, which includes Mike Miller Kia and Mike Miller Hyundai, located in Peoria, IL. This acquisition expands Morrie’s presence into Illinois, extending its Midwest retail coverage across Minnesota, Wisconsin, and Michigan.
The dealerships will continue to operate under the Mike Miller name and retain their current hometown staff. Morrie’s Auto Group will provide support in operations, marketing, manufacturer, and vendor relationships, and leverage the buying power of one of the largest auto groups in the Midwest.
“We are excited to welcome these new dealerships into the Morrie’s family,” said Lance Iserman, CEO of Morrie’s Auto Group. “This acquisition represents a significant milestone in our growth strategy and reinforces our dedication to delivering unparalleled value and service to our customers.”
This acquisition aligns with Morrie’s strategy of acquiring well-established dealership groups across the Midwest. Including this deal, Morrie’s has acquired 21 additional locations since 2016 through 10 transactions. Morrie’s now represents 20 brands across Minnesota, Wisconsin, Michigan, and Illinois, including Aston Martin, Audi, Bentley, Cadillac, Chevrolet, Chrysler, Dodge, Ford, Honda, Hyundai, Jeep, Kia, Land Rover, Lincoln, Maserati, Mazda, Mercedes-Benz, RAM, Subaru, and Volkswagen.
Gee Automotive Purchase Two Olympia Dealerships
Hanson Subaru and Hanson Kia in Olympia, WA, were recently sold to Gee Automotive Companies, according to Performance Brokerage Services. The dealerships will be renamed Olympia Subaru and Olympia Kia and will remain at their current locations in the Olympia Auto Mall, off Highway 101.
Steve Hanson, father of Vince and Kim Hanson, founded the dealerships in downtown Olympia more than 50 years ago, initially offering Volkswagen, Porsche and Audi. In 1986, he relocated to the Olympia Auto Mall.
“After 50 years in the auto industry, my sister and I decided the time was right to sell our stores,” Vince Hanson said, adding it was important to find a buyer and broker who both shared the same family values.
Gee Automotive Companies was established in 1983 when George and Theresa Gee acquired their first dealership in Spokane, WA, which eventually became the largest Pontiac dealership in Washington state. In 2003, their son, Ryan Gee, took on the role of president and CEO. Gee Automotive Companies has expanded to include 35 dealership locations across Washington, Idaho, Oregon and Arizona.
New Owners for the Lancaster Auto Mall
The Subaru Antelope Valley and Honda Lancaster auto dealerships in the Lancaster Auto Mall will have new owners under an assignment and assumption agreement approved by the Lancaster (CA) City Council that will remain in effect through 2039.
“Throughout this time the site will continue to operate as an automotive dealership, ensuring the ongoing generation of sales tax revenue for the city,” the report said.
According to the council report, the city in 2009 secured significant upgrades to both auto dealership facilities through the acquisition of operating and restrictive covenants from previous owner Clutter Motors. The operating and restrictive covenant included a 30-year commitment for the operation and maintenance of the dealerships at the auto mall.
In 2017, with the city’s consent, Clutter Motors assigned its obligations under the covenants to Sully II AVP LLC. Sully continued to operate the two dealerships since that time. In April 2019, Mike Sullivan, owner of the LAcarGuy Family of Dealerships, held a ribbon cutting ceremony to celebrate the grand opening of the renovated dealerships.
Stivers Automotive Buys Ford Dealership in Georgia
Stivers Automotive has purchased a Ford dealership in Union City, GA, from AutoNation.
Stivers Automotive is a retail automotive group with dealerships in Alabama, Arizona, Georgia and South Carolina. Brothers Eddie and John Stivers of St. Louis, MS, own the dealership group. The Stivers brothers are third-generation auto dealers whose family has been in the automobile business since 1927.
“Stivers Automotive works with DCG because of the experience and number of transactions we’ve successfully advised on in the Southeast,” said DCG President and CEO Dave Cantin, leading advisor to retail automotive groups and their owners, announces. “The strength of our team and our knowledge of the market enabled us to connect our client with this strategic acquisition.”
AutoNation is one of the largest automotive retailers in the U.S. With a nationwide network of dealerships, they offer a wide variety of new and used vehicles, customer financing, parts, and maintenance and repair services.
“I want to thank the team at DCG for helping put this deal together,” Stivers Automotive Owner and Dealer Principal Eddie Stivers said. “The support and communication with DCG’s team of experts made the transaction go smoothly, and I look forward to working with DCG on future acquisitions.”
