Dealer news: Acquisitions in Wisconsin, Minnesota
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Joe Laux completed the selloff of his truck business last week, with the sale of two truck stores in La Crosse, Wisc., to two Wisconsin-based dealer groups.
Dahl Automotive acquired La Crosse Truck Center Ford and Kriete Truck Centers purchased La Crosse Truck Center Mack-Isuzu, according to Haig Partners, which advised the seller in the transactions.
Dahl operates 13 franchised auto dealerships in Wisconsin and Minnesota and Wisconsin, and Kriete owns 11 Volvo and Mack locations in Wisconsin, Haig said.
The dealerships were previously part of River States Truck and Trailer, of which Laux was owner and CEO. In a separate transaction, Haig said, River States sold its three Freightliner-Western Star dealerships to Premier Truck Group, a subsidiary of Penske Automotive Group.
Haig Partners vice president Derek Garber said the decision to sell River States’ businesses separately was made because “drawing from our past experience with heavy truck buy-sells, we did not believe one single buyer would receive OEM approval to acquire all of Joe’s franchises.”
Haig said La Crosse Truck Center Ford dealership is one of Ford’s last remaining medium-duty-only dealerships, while the Mack-Isuzu dealership sells and services medium and heavy-duty trucks.
Kriete Truck Centers CEO David Kriete said the acquisition “aligns perfectly with our growth strategy.” Andrew Dahl, president of Dahl Automotive, said its new addition expands a relationship with Ford that dates to 1911.
“This Ford Pro location will allow us to further scale our commercial vehicle operations in the region” Dahl said. “We look forward to continuing the legacy built by Joe.”
Mosaic acquires dealership from longtime Ford legacy
Mosaic Auto Group has acquired Tom Heffernan Ford in Lake City, Minn., from Tom and Marie Heffernan, according to Performance Brokerage Services, which advised on the deal.
Mosaic Auto Group, owned by Moneer Nyazi, also operates two other dealership locations in Minnesota: Mosaic Chrysler of Zumbrota and Eide Chrysler Dodge Jeep Ram of Zumbrota. Its new acquisition has been renamed Mosaic Ford Lake City.
Tom Heffernan’s association with Ford dates back 68 years. He joined Ford Motor Company in 1956 and opened Tom Heffernan Ford in 1973.