Carter Myers Automotive to acquire Honda, Hyundai and Stellantis dealerships in Virginia from Craft Automotive

Craft Automotive Group of Lynchburg, Va., claimed past 7 days that it has signed an agreement to offer its 3 dealerships to Carter Myers Automotive, a growing dealership team in Charlottesville, Va.

The arrangement for Craft Automotive to sell Billy Craft Honda, Billy Craft Chrysler-Dodge-Jeep-Ram and Craft Hyundai, all in Lynchburg, to Carter Myers gets to be helpful on Aug. 24, in accordance to a statement signed by Craft Automotive President Kendall Craft and confirmed by Carter Myers CEO Liza Borches.

“We’ve recognised the Craft family for really a few of generations now,” Borches instructed Automotive Information. “Mr. Billy Craft and my dad were in the company alongside one another and I’ve acknowledged Kendall Craft even though the Virginia Automobile Sellers Association and have worked with him now for rather a couple decades.

“It really was crucial to the Craft loved ones to provide to yet another relatives-owned corporation.”

All Craft associates and basic managers will be invited to keep, Borches claimed. Carter Myers’ associates, as a result of an personnel stock ownership program, very own 26 per cent of the business. Borches said her firm’s staff possession framework was one more issue in Craft’s choice to offer his stores to Carter Myers.

Katherine T. Burrows

Next Post

Nissan to Let Titan Die on the Vine

Sat Jul 2 , 2022
  It’s rough to crack into an proven sector where brand name loyalty reigns supreme and previous habits die really hard. Nowhere is that much more apparent than with total-sized pickup vans in The usa, a segment in which the Detroit Three have a stranglehold on revenue. Only two other […]