Vision Automotive sells 10 dealerships to Atlantic Coast Automotive
New York’s Vision Automotive Group has sold 10 dealerships to Atlantic Coast Automotive Inc., according to the Rochester Business Journal and a person informed of the transaction.
Atlantic Coast Automotive of Miami Lakes, Fla., bought three Hyundai stores, three Nissan stores, two Kia dealerships, one Chrysler-Dodge-Jeep-Ram store and one Buick-GMC store. Dealerships are in Rochester, East Rochester, Webster and Canandaigua. These cities are part of Greater Rochester in upstate New York.
The agreement marks Atlantic Coast’s second dealership acquisition in the state this year. In May, he purchased six dealerships in upstate New York from Nye Automotive Group.
The bulk of the Atlantic Coast-Vision Automotive transaction took place in mid-September, according to the person. September 30 Rochester Business Journal The article indicates that title deeds for stores in Monroe County were filed that day and September 29 for Ontario County dealerships.
The story, citing public records, said the purchase price for the property tied to the deal was $21.3 million, but it did not say whether $1.3 million paid for another property in Rochester were included in this total.
A Kia America spokesperson confirmed Automotive News that the two Vision Kia dealerships have changed hands, although he did not provide further details.
The Rochester Business Journal reported that Vision Automotive was owned by Daniel Edwards.
Atlantic Coast’s Ali Ahmed and Vision Automotive management did not return multiple messages seeking comment.
The person familiar with the transaction said each of the dealerships will continue to operate under the Vision name.