Fletcher Jones buys L.A.-area Toyota pack
Fletcher Jones Automobile Team has bought a Los Angeles-area Toyota dealership — Carson Toyota, the sixteenth new-car pack within the Las Vegas corporate’s portfolio.
The pack used to be renamed Fletcher Jones Toyota of Carson, consistent with DCG Acquisitions, a Dave Cantin Team corporate, which brokered the Feb. 27 trade in for the consumer and dealers. George Pero, DCG Acquisitions’ nationwide vice chairman of gross sales, used to be the dealer.
“The multiples on dealerships have been very nice the last couple years,” Dan Pennington, a former co-owner, in conjunction with the Skinner kinfolk, advised Automobile Information. “It encouraged us to make the choice” to promote the pack, he stated.
Carson Toyota were a family-run operation since Don Pennington — Dan’s past due father — and spouse Bert Skinner bought it in 1974. Dan therefore entered the kinfolk industry, and then Skinner died in 2021, Dan determined it used to be a just right hour to money out.
Dan Pennington, 65, stated he’s committing to speed at some point to make a decision what to do after.
“I’ve taken the last couple of months to reintroduce myself to my wife,” he stated. “I’m enjoying that, but I’m not sure yet whether I’ll become fully retired.”
DCG Acquisitions CEO Dave Cantin, in an e-mail, showed that the buy-sell marketplace “is scorching. Even with interest rates three times higher than last year, buyers are still aggressively seeking opportunities.”
Fletcher Jones has been retailing automobiles since 1946, when founder Fletcher Jones Sr. opened his first pack, a used-vehicle dozen, in downtown Los Angeles.
In December, the crowd purchased Circle Audi and Circle Porsche, in Lengthy Seaside, Calif. These days, the corporate operates dealerships in California, Nevada, Illinois and Hawaii.
Fletcher Jones ranks Negative. 42 on Automobile Information‘ checklist of the lead 150 U.S.-based dealership teams founded within the U.S., retailing 18,876 up-to-date automobiles in 2022.
