LaFontaine Automotive Team on Thursday declared it has obtained Livonia-dependent Ralph Thayer Automotive, just the latest example of an accelerating consolidation trend among the auto dealerships navigating a fast-switching marketplace.
LaFontaine alone has been on one thing of an acquisition spree. The group — which includes 44 retail franchises, six collision centers and 25 Michigan retail locations — acquired Shuman Chrysler Dodge Jeep Ram of Walled Lake and Delehanty Ford in Flushing in October, according to a news launch.
And this most up-to-date deal arrives on the heels of Lithia Motors Inc. obtaining the Troy-based Suburban Assortment dealerships, connecting its 56 franchises to just one of the most significant auto retail networks in the nation.
As The Detroit Information earlier described, scaled-down dealership operations — normally growing older family members businesses — see an option to money out amid a historic transformation of the automotive sector, even as larger enterprises look to build scale so they can commit in new technologies.
“On behalf of my loved ones and our passionate LaFontaine group, we are enthusiastic to welcome the workforce and customers of Ralph Thayer Automotive into our LaFontaine spouse and children,” Ryan LaFontaine, CEO of the team, mentioned in a assertion. “This strategic acquisition further more strengthens our potential to serve customers in the larger Metro Detroit area — for profits, support, human body shop and elements.”
Phrases of the offer had been not disclosed.
Ralph Thayer Automotive —a relatives-owned and operated dealership that has served shoppers in southeast Michigan given that 1971 — consists of Hyundai, Mazda and Volkswagen franchises
LaFontaine was established in 1980. Nowadays it employs additional than 1,800 men and women, and says it now has areas inside a 25-moment drive of any town in Metro Detroit.
In accordance to a news launch, the group sold additional than 36,200 automobiles in 2020 and is rated amongst the top rated 50 seller groups in the U.S. It signifies the Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, Fiat, Genesis, Honda, Hyundai, Jeep, KIA, Mazda, RAM, Subaru, Toyota, Volvo and Volkswagen brand names.
The dealerships that are component of the transaction will be renamed LaFontaine Hyundai of Livonia, LaFontaine Mazda of Livonia and LaFontaine Volkswagen of Livonia.