Canada’s Knight Automotive Group expanded its U.S. operations for the third time in a year with the acquisition of four dealerships in Elk Grove, Calif., from Lasher Auto Group on Tuesday.
Knight Automotive acquired Elk Grove Dodge-Chrysler-Jeep-Ram, Elk Grove Subaru, Elk Grove Acura and Elk Grove Audi-Volkswagen. The Audi store was renamed Audi Elk Grove, while other dealers kept their names. Volkswagen Audi dealers have separate showrooms. Elk Grove is south of Sacramento.
Knight Automotive Vice President Braden Mueller said: car news That the group loves the Sacramento market.
“I think it’s a great place to live and do business,” Muller said. “We really like the brand and the synergy of having five stores in a row. It fits our business model.”
Mueller said Knight also bought several properties as part of the deal and plans to work with Subaru and Audi in the coming months to design new buildings for these stores.
With this week’s acquisition, the growing Knight Group now has seven stores in the US and in June purchased a Stellantis dealership in Claremont, California from John Elway Dealer Group. And so in December 2021, Knight purchased his two Ford dealers in Southern California.
Scott Lasher, who co-owned Lasher Auto with his brother Mark, Sacramento Business Journal talking about wednesday That they are exiting the car business. Their late father, Wes Rusher, opened a Volkswagen store in Sacramento. 1955, According to the group’s site. Mark and Scott took over day-to-day operations in 1995. Sacramento Business Journal.
Knight Automotive was founded in 1981 by Ted Knight, the father of president Kevin Knight. The group also has eight of his distributors in Saskatchewan and British Columbia, Mueller said. The group has sold six Canadian dealers in the past five months, Mueller said.
Kerrigan Advisers, a sell-side firm located in Incline Village, Nevada, represented Lasher Auto in the sale.