Craft Automotive Group of Lynchburg, Va., claimed very last 7 days that it has signed an agreement to sell its 3 dealerships to Carter Myers Automotive, a expanding dealership team in Charlottesville, Va.
The arrangement for Craft Automotive to market Billy Craft Honda, Billy Craft Chrysler-Dodge-Jeep-Ram and Craft Hyundai, all in Lynchburg, to Carter Myers gets productive on Aug. 24, in accordance to a assertion signed by Craft Automotive President Kendall Craft and confirmed by Carter Myers CEO Liza Borches.
“We’ve known the Craft household for really a pair of generations now,” Borches explained to Automotive News. “Mr. Billy Craft and my father ended up in the small business jointly and I have regarded Kendall Craft while the Virginia Car Dealers Affiliation and have worked with him now for rather a several several years.
“It really was significant to the Craft spouse and children to offer to one more spouse and children-owned company.”
All Craft associates and typical supervisors will be invited to continue to be, Borches claimed. Carter Myers’ associates, by an employee inventory ownership prepare, have 26 p.c of the corporation. Borches stated her firm’s worker possession composition was a further aspect in Craft’s determination to promote his suppliers to Carter Myers.