Driving the news: Alan Reuber and Matthew Barrows acquired Gregg Young Chevrolet of Marshalltown from Gregg Young Automotive Group in an Oct. 19 deal.
For context: Gregg Young Chevrolet of Marshalltown, in that Iowa city, sits about 50 miles northeast of Des Moines.
The store was renamed Marshalltown Chevrolet and will remain at its location.
Paul Kechnie, Matt Willis, and Jamie Farley of Performance Brokerage Services advised the sellers.
Reuber, who has owned more than 15 dealerships, is returning to auto retail after previously exiting dealership ownership, with Barrows as co-owner, according to a Performance Brokerage release.
What they’re saying: Reuber said he and Barrows are “thrilled to begin this next chapter as Marshalltown Chevrolet.”
“This is our second acquisition together, and we couldn’t be happier with how it came together or more excited about what lies ahead in Marshalltown,” Reuber said.
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Worth noting: Gregg Young entered auto retail in 2000 with a Chevrolet store in Omaha, Nebraska, which grew into Gregg Young Automotive Group, according to Performance Brokerage.
The group now operates 11 locations across multiple states, including Nebraska and Wisconsin.
Strategic note: The Marshalltown sale is the group’s second Chevrolet store sale since September, when it sold Gregg Young Chevrolet of Plattsmouth, Nebraska, to Janssen Auto Group, which renamed it Janssen Kuenle Chevrolet.
Performance also advised on that deal.
You can see this deal announcement and many more throughout the year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by The Presidio Group.
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Source: news.dealershipguy.com
