CARY, N.C. -

And now your dealership M&A coverage continues with a Texas two-step. 

The Dallas-Fort Worth area, to be specific.

First up, Houston-based Group 1 Automotive announced Monday it has purchased two dealerships in the DFW market: Classic Chrysler Dodge Jeep Ram of Denton and Classic Mazda of Denton. 

The retailer anticipates these dealerships will generate annualized revenues of approximately $150 million. 

Group 1 currently has 10 stores representing 10 brands within the DFW area. 

“We are excited to expand our presence in the fast-growing Dallas-Fort Worth metro market with these strong brands,” said Daryl Kenningham, who is Group 1’s president of U.S. and Brazilian operations, in a news release.

So far this year, Group 1 has competed acquired revenues of $570 million. Group 1 now has 119 dealerships in the U.S., thanks to this purchase. 

The retailer anticipates its pending purchase of Prime Automotive Group will close late next month, which would put its acquired revenues to at least $2.4 billion. The Prime purchase would bump its U.S. dealer count to 149 and its total dealership count to 220.

Elsewhere on the M&A front, The Presidio Group said Tuesday it advised Dallas-based Sewell Automotive Companies on it purchase of Classic BMW, a transaction that included both a BMW and MINI franchise in Plano, Texas. 

“Since the opening of our first BMW store in Grapevine, Texas in 2017, we have been honored to be a BMW dealer,” said Carl Sewell III, who is a president of Sewell Automotive Companies, said in a news release. “With the help of Brodie Cobb, George Karolis, and their incredible team at The Presidio Group, we are thrilled to add Classic BMW, one of the finest BMW dealerships in the country, to our group. We are also grateful to Eric Maas and the Maas family for this opportunity.”

Jacquelin Sewell, also a president of the group, added: ““Our family has focused our expansion on the highest quality businesses, and Classic BMW is at the top of that list. We welcome Classic BMW and MINI to the Sewell family and look forward to continuing the dealership’s 50-year legacy of outstanding service to the Plano community and the greater Dallas-Fort Worth area.”

Lee Maas founded Classic BMW in 1971.What started as a 3,000-square-foot facility eventually grew to a 160,000-square-foot facility, which Presidio said is the largest BMW store in the country based on square footage. 

Eric Maas is the president of Classic BMW and director of racing operations at Fast Track Racing LLC. In Tuesday’s release, he said: “This dealership is a testament to my family’s passion for cars and customers. My family wouldn’t consider selling unless we were assured that our legacy of caring for our customers and employees would be continued at the same high standard.

“The Presidio Group understood that when they approached me about selling to the Sewell family, who literally wrote the book on customer service. We are certain that the Sewell Family will carry on our tradition of treating each customer in the showroom and service drive as if they are part of our own family.”

Added Presidio founder and chief executive officer Brodie Cobb, “Presidio was privileged to work with the Sewell family in helping them strategically grow their portfolio of high-performing luxury dealership franchises in Texas. Rarely in the M&A world do we find parties to a transaction that align philosophically more than the Sewell and Maas families. We were privileged to work so closely with both on this historic Dallas transaction.”