June 23, 2021

LMP Automotive Holdings agrees to purchase majority stake in N.Y. dealership group for $608 million

The deal includes 20 franchises at 17 rooftops, all in New York. The Atlantic dealerships and storage facility are expected to generate an estimated $1.6 billion in revenue and $38 million in net income on an annualized basis in 2021, LMP said. The deal will be partially financed, which includes seller financing, and funded through company cash. The group will retain ownership of the real estate, which LMP will lease for five years, Staluppi Sr. said.

“It’s a good opportunity for them; it’s a good opportunity for my people,” Staluppi Sr. said. “None of my business will change. All of the employees stay in place. I’m still the boss.”

If all of the acquisitions LMP announced this year close, including Atlantic Auto Group, LMP’s 26 rooftops will represent 33 franchises: five Toyota, two Lexus, three Honda, one Subaru, six Hyundai, three Genesis, three Kia, four Chevrolet, two GMC, two Cadillac

Read More

Foundation Automotive Corp. Announces Asset Purchase Of Chrysler Dealership In North Vancouver

VANCOUVER, BC, Oct. 1, 2020 /PRNewswire/ – Foundation Automotive Corp., is proud to announce the purchase of the dealership assets of Destination Chrysler Jeep Dodge Ram North Shore, adding a new dealership to their presence in British Columbia.  Effective October 1, the dealership will operate under the name Foundation North Vancouver Chrysler Dodge Jeep Ram.  In this venture, Foundation Automotive will become a part of the North Vancouver automotive market, one of the most dynamic markets in North America.

“High praise to the Destination team for their participation and thank you to everyone at the Foundation team for their relentless support in adding another FCA franchise to the Vancouver area,” says Adam Mounzer, Dealer Partner of Foundation Squamish Chrysler Dodge Jeep Ram.

Owing in part to its strong leadership and an all-star executive management team, Foundation Automotive has an innovative business model that has proven resilient

Read More

How To Examine A Used Camper Or Rv, Earlier than You Purchase.

With regards to utilizing your vehicle to make a profit, the possession of a van could go a great distance. Those that drive DARKISH PURPLE automobiles are often out to depart a mark on the world. Individuals who choose to drive INEXPERIENCED automobiles are typically less involved with appearances and extra centered upon integrity. The board marking the actual start of the restriction, nonetheless, was lit, however by the time the motive force noticed this, it was too late.

In fact, your counter-supply will likely be based mostly on your taking the time to know which of the gadgets in your inspection listing you’ll be able to fix relatively cheaply and simply versus the ones that you understand will require a trip to a service store.

Folks weren’t only praising God for the lady’s answered prayer. There was a head-oncollision between two trains in heavy fog after the driver of … Read More