(EDITOR’S NOTE: According to public records, the 128,969 square foot dealership traded for $48.6 million, or about $377 per square foot. The property is located at 1333 E. 223rd St.)
NEW YORK —- The Dave Cantin Group (DCG), one of the largest automotive industry financial advisory services companies specializing in buy/sell transactions, announced that DCG Acquisitions, one of the leading mergers and acquisitions firms, closed the transaction of Carson Toyota—largest Toyota dealership in Carson, California— to Fletcher Jones Automotive Group.
This deal continues DCG’s 2023 merger and acquisition momentum, which began the year already in motion with 24 acquisitions totaling 65 franchises in the works (including several large auto groups).
“The transaction is a strong indicator of the competitive opportunities, and high dealership valuations we anticipate seeing throughout 2023,” says George Pero, DCG Acquisitions’ National Vice President of Sales, who represented both buyer and seller in the transaction.
Under the new ownership, the dealership will be known as Fletcher Jones Toyota of Carson. Carson Toyota has been in operations for 49 years.
“As a third-generation operator and COO of our management team, I am excited to welcome the entire Fletcher Jones Toyota of Carson staff to the Fletcher Jones Automotive Group family,” says Fletcher Jones III, COO of Fletcher Jones Automotive Group. “We will continue to offer the same great service their customers have enjoyed for many years plus offer an entire new suite of benefits as part of being a member of the Fletcher Jones Automotive Group of stores.”
This acquisition will be the 16th new car dealership for the Fletcher Jones Automotive Group spread across California, Nevada, Illinois, and Hawaii.
“We look forward to passing the baton to the Fletcher Jones organization to continue our legacy with Carson Toyota,” says Dan Pennington, Co-Owner of Carson Toyota. We are confident they will excel with customers and employees as they bring the Carson Toyota family under their wing.”
“Given our nearly 50 years of business, it was important to us to find the ‘right’ buyer,” Pennington adds. “George and DCG Acquisitions did an amazing job throughout this transaction. He worked closely with us until the perfect match was identified.”
“This is our first closed transaction with George Pero and DCG Acquisitions. George was involved in virtually every aspect of the process ensuring a timely close that worked for all parties on the transaction. I highly recommend George and the DCG team to anyone currently considering a buy/sell today,” Jones adds.
Fletcher Jones Sr. launched 77 years ago with his first store in downtown Los Angeles and, with the help of the current management team, has grown to become one of the most respected and world renown platforms in the country.
About Dave Cantin Group
The Dave Cantin Group (DCG) headquartered in New York City, services the automotive industry nationwide. As a holding company, DCG is comprised of DCG Acquisitions, the Mergers & Acquisitions arm of the organization, DCG Acquisitions in one of the largest automotive M&A firms in the automotive industry, specializing in automotive buy/sell transactions; DCG Capital provides capital-focused services for automotive dealers and industry service providers; DCG Media curates and syndicates automotive-specific media; and DCG Giving, the organizations nonprofit committed to funding lifesaving child and adolescent cancer research and treatment.
