Krause Auto Group Grows With Fla. Buys
Nissan, Genesis stores increase its footprint to 23 stores.
The general manager of the dealerships will stay in that position while becoming a 40% minority partner in the Nissan stores.
IMAGE: Nissan
Krause Auto Group picked up three Florida dealerships to bring its rooftop count to 23.
One Genesis store and two Nissan dealerships are all in Lee County in southwestern Florida.
Krause, founded in 1991, acquired the stores for more than $110 million.
Sutherlin Nissan of Cape Coral, Sutherlin Nissan of Fort Myers and Sutherlin Genesis in Fort Myers have been renamed Nissan of Cape Coral, Nissan of Fort Myers and Fort Myers Genesis.
Krause said it plans to expand the service department of the Fort Myers Nissan and renovate the dealership, which it said is the top-performing U.S. store for the brand. It will move the Genesis store, currently sharing the same property as the Nissan dealership, to a new spot about a mile south.
The general manager of the dealerships, Mike Spinazze, will stay in that position while becoming a 40% minority partner in the Nissan stores.
"I am particularly excited about this opportunity because I am returning to my roots — as I grew up in Fort Myers and graduated from Bishop Verot High School before pursuing a degree from Stetson University in Deland, Florida," said Krause CEO Vernon Krause. “Having the ability to contribute to the automotive industry in this particular thriving market is a full-circle moment for me."
The acquisition was brokered by Mike Sims, president of Pinnacle Mergers & Acquisitions.
Originally posted on Auto Dealer Today
More Showroom
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →
European EV Market Hits Record
Seven out of the top 10 electric vehicles sold so far in 2026 in Europe are by European brands, and automakers are seeing the power train fill up their order books.
Read More →
Used EVs Outpace New
While North American electric-vehicle sales remain down year-over-year, May sales saw a 3% increase from April’s numbers as used EVs led the market.
Read More →
New Vehicles Down for Most Brands
Healthy May sales cut into inventory as automakers kept a tight reign on supply, though some brands ended the month with excess units on the ground.
Read More →
Auto Prices Ride May Moderation
Flat ATPs and asking prices clocked in below long-term averages for the month, though some segments saw significant price gains, reported Cox Automotive.
Read More →
Mitsubishi Sets Growth Strategy, Structural Transformation
The Japanese automaker aims to 'strengthen products and technologies that embody its brand identity,' focus on its strongest markets and expand value-chain businesses 'that leverage its unique strengths.'
Read More →
Affordable, Safe Cars for Teen Drivers
Families looking to balance affordability and safety in vehicles for their teen drivers can look to the updated list of recommended vehicles by IIHS and Consumer Reports.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
Holman Opens Porsche Dealership in Miami
The North Miami store features the brand’s signature Destination Porsche design concept, combining contemporary architecture and technology to create what the auto group calls an ultra-luxury experience.
Read More →
Chicago to Gain Cadillac Rooftop in 2027
The two-story Cadillac dealership is being constructed at the former Lincoln Yards site, owned and operated by Canada-based Jack Carter Auto Group.
Read More →