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

Craft Automotive Team of Lynchburg, Va., reported last 7 days that it has signed an settlement to provide its three dealerships to Carter Myers Automotive, a developing dealership team in Charlottesville, Va.

The arrangement for Craft Automotive to market Billy Craft Honda, Billy Craft Chrysler-Dodge-Jeep-Ram and Craft Hyundai, all in Lynchburg, to Carter Myers turns into productive on Aug. 24, according to a assertion signed by Craft Automotive President Kendall Craft and confirmed by Carter Myers CEO Liza Borches.

“We have acknowledged the Craft household for basically a couple of generations now,” Borches instructed Automotive News. “Mr. Billy Craft and my Dad had been in the enterprise with each other and I’ve acknowledged Kendall Craft while the Virginia Car Sellers Association and have labored with him now for fairly a number of yrs.

“It truly was crucial to the Craft family members to offer to another family-owned organization.”

All Craft associates and typical professionals will be invited to stay on, Borches claimed. Carter Myers’ associates, by way of an personnel stock ownership program, individual 26 per cent of the organization. Borches reported her firm’s personnel possession structure was yet another issue in Craft’s conclusion to sell his outlets to Carter Myers.