Four large-volume Honda and Toyota franchises acquired by Lithia
DALLAS, TX — August 3, 2020 — The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised John Eagle Dealerships on the sale of Howdy Honda in Austin, TX, Honda Cars of Rockwall in Rockwall, TX, and John Eagle Honda Dallas and Sport City Toyota in Dallas, TX to Lithia Motors Inc.
“Our family was pleased that The Presidio Group found a buyer such as Lithia for our Austin, Dallas and Rockwall stores” said John Eagle, CEO of John Eagle Dealerships. “The Presidio Group has been our trusted advisor for years, and we had great confidence in them. We know that the stores are in excellent hands and will remain community leaders that support their customers and employees.”
“Working with Lithia as the buyer for our stores in Austin, Dallas, and Rockwall was an honor,” said Rene Isip, President and Chief Operating Officer of John Eagle Dealerships. “The franchises are in very strong markets and will continue to thrive under their new ownership.”
“We are very pleased to continue our expansion in the Texas market where we have had great success,” said Bryan DeBoer, Lithia Motors President and CEO. “These large-volume import brands will give our customers even more choice and we welcome the Eagle team members to the Lithia family.”
“It was a pleasure to work with John and Rene to find a buyer for these excellent franchises in Austin, Dallas, and Rockwall,” said Brodie Cobb, CEO of The Presidio Group. “Even in pickup-loving Texas, brands of this quality are always in demand.”
“The automotive retail market continues to show its strength and resilience,” said George Karolis, President of The Presidio Group. “Demand for dealerships in the Texas market has remained strong this year, especially for excellent franchises such as these.”
About John Eagle:
John Eagle Dealerships, headquartered in Dallas, has locations in Dallas, Austin, Rockwall, San Antonio and the Houston Metroplex. Founded in 1962 by Bob Eagle with the purchase of a single Lincoln Mercury store in Dallas, the group has grown to include eleven dealerships representing Honda, Toyota, Acura, and Infiniti. They are known for their excellent customer service and service to the community.
About Lithia Motors:
Lithia Motors, Inc. is a leading provider of personal transportation solutions in the United States and is among the fastest growing companies in the Fortune 500 (#252-2020). Lithia’s rapid growth is powered by people, an industry-leading physical network and ecommerce digital home solutions. It has close to 200 locations representing all major brands reaching 92% of U.S. markets.
The Presidio Group provided exclusive M&A advisory services to John Eagle Dealerships through its wholly owned investment bank, Presidio Merchant Partners LLC.
The Presidio Group LLC was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively done over 190 transactions for over $10 billion. It also publishes Presidio’s Where the Rubber Meets the Road, a leading source of information about the automotive retail landscape and the automotive retail M&A environment. The Presidio Group is based in San Francisco, CA. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.