Following its entry into Southern California in August, the growing Swickard Auto Group expanded its footprint there on December 12 with the purchase of five dealerships. As well as the plan to purchase three more early next year.
West of Los Angeles, Swickard Auto purchased from AndersonAutos, a division of Anderson Holdings: Acura, Honda, Jaguar-Land Rover, Mercedes-Benz, and Lexus of Thousand Oaks.
The growth resulted from the majority interest acquisition of John Elway’s Ontario-based Crown Toyota, one of the highest-volume U.S. dealerships for the Japanese automaker.
“They’re brands that we really like and we value the partnership with,” Greg Gates, vice president of business transformation at Swickard Auto, reported. “We’re always looking for opportunities. With the opportunity to grow in Southern California, we felt like it was a great match.”
In the first quarter of 2023, Swickard Auto will purchase AndersonAutos’ three remaining dealerships, which include Cadillac, Chevrolet, and Buick-GMC outlets, according to Karolis. George Karolis is the president of Presidio Group, a Denver and Atlanta-based investment banking and dealership advisory firm.
In July, Swickard Auto expanded its footprint initially with an Alaskan acquisition and dealerships in Northern California, Washington, and Texas. Gates claimed, “it made sense geographically.”
Swickard Auto ranks No. 64 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 14,107 new vehicles in 2021.
Did you enjoy this article? Please share your thoughts, comments, or questions regarding this topic by connecting with us at newsroom@cbtnews.com.
Be sure to follow us on Facebook, LinkedIn, and TikTok to stay up to date.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.
