Victory Automotive Group buys Honda, Ford-Hyundai-Toyota dealerships

June 22nd, 2022 by

Group expands presence in Ohio

Victory Ford Hyundai Toyota

Victory Automotive Group, one of the largest privately owned dealership groups in the U.S., made its first acquisition since December 2021.

Victory Automotive Group, fresh off sales of two Honda stores in separate May transactions, made its first acquisition since late 2021 with the purchase of two dealerships representing four total franchises.

Victory Automotive, of Canton, Mich., on June 6 bought Nassief Honda in Austinburg, Ohio, and Nassief Ford-Toyota-Hyundai in Jefferson, Ohio, from siblings Marybeth and Todd Nassief, owners of Nassief Auto Group.

Austinburg and Jefferson are northeast of Cleveland, near the Pennsylvania border.

Nassief Auto Group was started by the siblings’ parents and had been in business for 67 years, according to the Star Beacon newspaper.

Victory Automotive renamed the dealerships Victory Honda, Victory Ford, Victory Hyundai, and Victory Toyota, the latter three of which operate out of one building.

Rodger Olson, COO at Victory Automotive, told Automotive News in an email that the group is working “with manufacturers now to develop a plan to expand and separate the businesses.”

The acquisition bolsters Victory Automotive’s presence in Ohio to three dealerships. It also owns a Honda dealership in Sandusky, west of Cleveland.

Victory Automotive now has 21 Honda dealerships in its portfolio, plus seven Toyota stores and five Ford dealerships, according to its website. The group has had Hyundai dealerships in the past, Olson noted, but the Jefferson, Ohio, location currently is its only store of the Korean brand.

Victory Automotive has grown to 47 dealerships following the Ohio acquisitions.

The group sold Freeway Honda in Birmingham, Ala., on May 9 to Carlock Automotive Group and sold Victory Honda of Ontario in Canandaigua, N.Y., to West Herr Automotive Group on May 25.

Victory Automotive made three acquisitions in the second half of 2021, including the December purchase of a Toyota dealership in the San Francisco Bay Area, its most recent purchase, Olson confirmed.

Victory Automotive ranks No. 14 on Automotive News’ list of the top 150 dealership groups based in the U.S., with retail sales of 36,958 new vehicles in 2021.

Via: AutoNews

Posted in News