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SEARCHThe latest acquisition is part of a strategic plan to increase market presence and expand its customer base.
The acquisition grows Murgado Automotive Group to 24 dealership locations, selling economy to ultra-luxury brands.
Andrea Piacquadio
Retailer Murgado Automotive Group, with dealer franchises in Florida, Illinois and New Jersey, acquired Motor Werks Auto Group, a retailer based in Barrington, Ill.
The acquisition includes BMW, Cadillac, Honda, Infiniti, Porsche and Mercedes-Benz dealerships and grows Murgado to 24 dealership locations selling economy to ultra-luxury brands.
The sale closed on March 17. It's part of a strategic acquisition plan to increase market presence and expand its customer base. Adding Motor Werks to Murgado's dealer franchise portfolio will enable the company to offer a broader range of automotive brands and services to customers in the Chicagoland area.
Murgado Automotive already operates Honda of Downtown Chicago, Volkswagen of Downtown Chicago, Honda Libertyville, and Acura Highland Park.
“Motor Werks was the first Cadillac dealership that I ever visited as a boy with my father in 1975, so I am deeply familiar with the brand and its legacy,” said group President and CEO Mario Murgado. “We are proud and excited to welcome Motor Werks to our family of dealerships and add to our presence in Greater Chicago. We look forward to working with the many long-time and experienced employees and extending the tradition and success of Motor Werks.”
Motor Werks was founded in 1971 with one store in downtown Barrington. Murgado Automotive plans to retain the Motor Werks brand and has not announced any major staffing changes.
Customers of Motor Werks can expect a seamless transition of ownership and continued commitment to providing an outstanding automotive retail experience, according to Murgado.
“I want to thank Paul Tamraz and Mick Austin for the opportunity to acquire their incredible stores,” Murgado said. “They built a beautiful family business and have set a high bar, but we are up to the challenge.”
More information about the acquisition and about Murgado Automotive Group can be found at MurgadoAutomotiveGroup.com.
Originally posted on Auto Dealer Today
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