Dobbs Fairness Companions late final yr included a domestic dealership to its lineup and expanded to a new point out: Indiana.
Dobbs Equity of Memphis, Tenn., on Dec. 6, bought Blossom Chevrolet in Indianapolis from Mike Chase and an undisclosed companion.
Chase remains seller operator of the retail outlet, which has a far more than 50-yr history, and retained an undisclosed possession percentage in the dealership, in accordance to Haig Associates, a get-provide business in Fort Lauderdale, Fla., which represented the vendor in the transaction.
The dealership’s name was retained.
“Dobbs Fairness Associates is thrilled to broaden our existence in Indianapolis and are grateful that Mike Chase will keep on to be a component of the workforce,” John Dobbs Jr., the firm’s CEO, said in a statement. “We foresee even further growth and growth in the Midwest with Mike and his team top the energy.”
Rick Greene, COO of Dobbs Equity Partners, advised Automotive News that the team is below deal to acquire five extra dealerships.
Chase said though he opted to promote the Chevy store, he required to obtain a buyer that would enable him keep concerned in the dealership.
“I am excited to proceed escalating the business and pursuing new prospects with the Dobbs team,” Chase mentioned in a assertion.
The acquisition follows Dobbs Equity’s November 2021 acquire of Papa’s Chrysler-Dodge-Jeep-Ram in New Britain, Conn.
The Dobbs family members acquired its commence in automobile retail in the 1920s. Dobbs Automotive Team in 1998 marketed additional than 20 dealerships to Republic Industries Inc., which in 1999 changed its title to AutoNation Inc.
Today, the Dobbs Household Automotive portfolio has 9 franchised rooftops, with dealerships also in Kansas, Arkansas and Texas.