Texas Dealerships Rebranded After Sale
The Norm Reeves group of stores had owned the three rooftops in the greater Dallas-Fort Worth metro area that now operate under a homegrown group’s signature.
Pinnacle Mergers & Acquisitions
A growing Texas-based automotive group picked up three Norm Reeves-branded dealerships in a recently completed transaction.
The deal, brokered for seller The CAR Group by Pinnacle Mergers & Acquisitions, adds to the diverse stable of stores operated by Clay Cooley /Auto Group.
The buyer renamed the Irving, Texas, Genesis, Hyundai and Mazda dealerships to reflect the Clay Cooley brand.
The CAR Group, which still owns and operates stores under the Norm Reeves brand in California, Florida and Texas, seemed to characterize the sale of the three Texas stores as a strategic market move.
“Over 30 years of experience in the retail automotive industry has taught us that growth over time comes from matching knowledge of markets to our long-term vision,” said CEO Taylor Conant in a press release on the transaction.
Clay Cooley, namesake president of the Clay Cooley group, said the newly acquired stores increase the group’s value proposition. “These are exceptional dealerships with strong teams and loyal customer bases.”
His group, nearing its 30th anniversary, now has more than 25 dealerships in his fold, while the Texas sale leaves the CAR Group with just under 20 locations.
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