Stores bought from family group in its third generation.
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Murgado Automotive Group increased its East Coast footprint with the acquisition of Mercedes dealerships in Virginia.
The group said it picked up stores in Richmond and Midlothian in the central part of the state, bringing it to a total of 26 dealerships among Florida, Illinois, New Jersey and Virginia as it looks to expand in growing East Coast and Midwestern areas.
The group added Mercedes-Benz of Richmond and Mercedes-Benz of Midlothian from the McGeorge family, which is said started selling the Mercedes brand in 1968.
Murgado was founded in 2001 in Miami. It also sells Accura, Alfa Romeo, Audi, Bentley, BMW, Buick, Cadillac, Ferrari, GMC, Honda, Infiniti, Maserati, Mazda, Porsche and Volkswagen.
“It's humbling to succeed a dealership group that has been built from the ground up and is now run by a third-generation leader,” said group CEO Mario Murgado in a press release on the transaction. “We, too, are passionate about our family-owned operations and are eager to introduce our unique brand of automotive retailing to Central Virginia, all while honoring our predecessors and Mercedes-Benz."
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Originally posted on Auto Dealer Today
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