Hyundai, Nissan, Honda and Toyota dealerships sell in 4 states
Integrity Automotive acquires Nissan store
Integrity Automotive Holdings of Mamaroneck, NY, expanded again with the July 25 purchase of its third Nissan store, buying a dealership in Springfield, NJ, from World Auto Group and Chris Preziosi.
Jeffrey Weiner and Michael Ianelli of Integrity Automotive purchased Nissan World of Springfield in New Jersey, which they renamed Nissan City of Springfield.
This is the third Nissan store acquired by Integrity Automotive and the second acquired from World Auto, according to Weiner, CEO of Integrity Automotive. In May 2021, Integrity Automotive purchased a Nissan store in Red Bank, NJ from World Auto.
Integrity Group now has five dealerships spread across the New York metro area, including New Jersey, with two additional acquisitions in the works that the company hopes to complete by the end of the year, Weiner said.
Weiner said the group chose to buy the Springfield Nissan store because of its location.
“Route 22 in Springfield, NJ, is a great place to sell cars,” Weiner said. “It’s a busy area and we expect it to be one of the best performing Nissan stores in the country.
“It really is a great store with everything you need for that.”
Springfield is about 25 miles west of the New York state line.
Weiner, who is the main dealer for the new Nissan store, said while they will be adding staff, no other major changes are planned.
Former managing director and partner buys Honda store
Veteran dealership executive general manager Vladimir Rajcic and co-owner Bob Kashani purchased their first new-car dealership, RocketTown Honda in Lompoc, Calif., in June.
The concessionaire’s name refers to the city’s nickname, based on nearby Vandenberg Space Force Base, formerly an Air Force base. Lompoc is in Santa Barbara County.
“I was looking for a Honda dealership,” Rajcic said in a phone interview, adding that he had experience running Honda shops. Rajcic said he previously worked for Rohrman Automotive Group of Lafayette, Indiana, at dealerships in Illinois representing several different brands.
The Honda transaction was completed on June 15 and the seller was dealership Chris Zikakis. RocketTown Honda was its only dealership, according to John Chisholm of dealership brokerage Dealer Solutions Mergers and Acquisitions, with US headquarters in Stuart, Florida.
Kashani, a real estate developer, owns a large but minority stake in the Honda store, said Chisholm, vice president of Canadian sales at Dealer Solutions Mergers and Acquisitions since January. He was previously director of business development.
Chisholm represented the seller in the transaction, but said he was working closely with both parties.
“Many stars lined up” to make the deal happen, Chisholm said, including “the price of real estate [and] the total cost of the package.”
Bill Penney adds a Toyota dealership
Bill Penney Motor Co. in the first quarter expanded its holdings in Jasper, Alabama, by buying Scott Crump Toyota from Scott Crump, according to the Daily Mountain Eagle newspaper.
The deal closed on Feb. 22, Southeast Toyota Distributors, the distributor for Toyota stores in five southeastern states, including Alabama, confirmed to Automotive News.
The group renamed the Bill Penney Toyota dealership in Jasper. Jasper is northwest of Birmingham.
This is the group’s third store in Jasper and its second Toyota dealership, along with the other in Huntsville, Ala.
Bill Penney Motor, through partners Zack Penney, Hunter Johnson and Ryan Hensley, also acquired Chrysler-Dodge-Jeep-Ram of Jasper and Ford of Jasper, Alabama from Automotive Group of Jasper. Bill Penney Motor also has a Mitsubishi store in Huntsville, according to its website.
Comments are closed.