Fletcher Jones Sells Marquee Chicago Dealerships to AutoNation
AutoNation has acquired Mercedes-Benz of Chicago and Fletcher Jones Audi of Chicago from Fletcher Jones Automotive Group, according to The Presidio Group, which advised Fletcher Jones on the sale.
“We are excited to expand our presence in the Chicago market with the acquisition of these flagship dealerships,” writes AutoNation CEO Mike Manley in a release. “The Presidio team’s M&A expertise, professionalism and ability to facilitate a seamless process were invaluable throughout this transaction.”
FJAG executives say the move, though unplanned, allows the Newport Beach, Calif.-based group to focus on its remaining 13 stores in California and Nevada, nearly all of which house premium franchises.
“Fletcher Jones rarely sells stores, but when The Presidio Group approached us about this opportunity, we listened,” writes the group’s president, Keith May. “These dealerships are outside our core West Coast markets, and our longstanding relationship with and trust in Presidio gave us confidence that the transaction would be handled with the utmost discretion and professionalism.”
In April, AutoNation purchased the former Groove Ford and Groove Mazda, located in suburban Denver and now known as AutoNation Ford Arapahoe and AutoNation Mazda Arapahoe, from Summit Automotive Partners.
