Jeff Wyler Automotive Family Inc. of Milford, Ohio, has acquired seven dealerships from Superior Automotive Group in its largest-ever acquisition, adding to its presence in the Buckeye State through several import brands and its first Acura dealerships.
The transaction, which closed Thursday, was for three Hyundai dealerships, two Acura stores and Kia and Honda outlets: Superior Acura in Fairfield, Superior Honda in Cincinnati, Superior Kia in Cincinnati, Superior Hyundai North in Fairfield, Superior Hyundai South in Cincinnati, Superior Acura of Dayton in Centerville and Superior Hyundai of Beavercreek, all in Ohio.
“We are excited to bring these seven Superior dealerships into the Jeff Wyler Automotive Family. We know one direction — forward — as we continue to grow and lead the market not only in Cincinnati, but nationwide,” Jeff Wyler President David Wyler said in a statement. “Our focus is to not only grow, but to also become more consumer facing every year and the addition of these dealerships means an even larger selection of inventory for our shoppers locally and across the U.S.”
The Jeff Wyler group now has 23 dealerships in Ohio, Kentucky and Indiana.
The dealerships were renamed Jeff Wyler Acura of Fairfield, Jeff Wyler Acura of Dayton, Jeff Wyler Hyundai of Fairfield, Jeff Wyler Superior Hyundai, Jeff Wyler Superior Honda, Jeff Wyler Hyundai of Beavercreek and Jeff Wyler Superior Kia.
A used-vehicle dealership, Mike Albert Sales & Service in Cincinnati, was not part of the transaction, said Kevin Frye, Jeff Wyler Automotive’s marketing director. Terms of the transaction weren’t disclosed.
The acquisition would add about $400 million in annual revenue and about 10,000 annual vehicle sales, according to a Cincinnati Business Courier report.
Superior Automotive, of Cincinnati, was founded in 1924, according to Haig Partners, a buy-sell firm in Fort Lauderdale, Fla., which represented the seller in the transaction. Kevin Nill and Alan Haig were brokers.
“I am happy the Wylers are buying the stores as I know they will continue to build on the legacy our family has created,” said John Betagole, president of Superior Automotive, in a statement.
The transaction follows Jeff Wyler’s December purchase of Mercedes-Benz of Louisville in Kentucky.
Jeff Wyler Automotive ranks No. 38 on Automotive News‘ most recent list of the top 150 dealership groups based in the U.S., with 21,592 new-vehicle retail sales in 2020. The group said its new- and used-vehicle sales combined topped 45,000 last year.