Pete
06-22-2022, 11:27 AM
SA auto group acquiring first dealerships outside of Texas (https://www.bizjournals.com/sanantonio/news/2022/05/23/cavender-auto-family-reynolds-ford.html)
The latest deal represents new territory for the Alamo City company
By W. Scott Bailey – Senior Reporter, San Antonio Business Journal
May 23, 2022
Cavender Auto Family is extending its footprint outside the Lone Star State.
The San Antonio-based company has acquired two longtime Ford auto dealerships in Oklahoma.
With the deal, Cavender now adds Reynolds Ford of Norman and Reynolds Ford of Oklahoma City to its portfolio. It’s the first expansion for the deep-rooted company outside of Texas.
“Our plan is to take what they are already doing well and then add a few additional elements for which the Cavender Auto Family is known,” Cavender Auto Family CEO Stephen Cavender said.
The dealerships, founded in 1952, have been owned and operated for the last 48 years by Dale Daniels. Cavender said they were attractive assets because of Reynolds’ reputation as a high-performing, family-owned business,
There were other factors that drove Cavender’s interest, including Ford’s strong positioning in Oklahoma.
As part of the transaction, the two dealerships will be rebranded as Cavender Ford of Oklahoma City and Confidence Ford of Norman.
Last May, Cavender Auto Family reached a deal with Alderson Automotive Group owner David Alderson to buy six dealerships in Lubbock and Midland. That transaction included dealerships selling BMW, Cadillac, Lexus, Mercedes Benz and Sprinter vehicles.
Roughly two months later, the Alamo City company said it was aligning with Cavender Herrera Autoworks LP in Austin to develop the largest Subaru dealership in North America.
Cavender officials said this latest deal is a good fit because the Oklahoma properties have operated under similar core values. The change in operations is effective as of May 23.
Daniels said while the transition will be bittersweet, he feels confident knowing the dealerships will be in good hands.
“I was extremely particular when looking to turn my dealership, and I was really pleased when meeting the Cavenders,” he said. “Looking at their history and the importance that they put on customer satisfaction and goodwill, they’re going to be a good fit for the Oklahoma community.”
The latest deal represents new territory for the Alamo City company
By W. Scott Bailey – Senior Reporter, San Antonio Business Journal
May 23, 2022
Cavender Auto Family is extending its footprint outside the Lone Star State.
The San Antonio-based company has acquired two longtime Ford auto dealerships in Oklahoma.
With the deal, Cavender now adds Reynolds Ford of Norman and Reynolds Ford of Oklahoma City to its portfolio. It’s the first expansion for the deep-rooted company outside of Texas.
“Our plan is to take what they are already doing well and then add a few additional elements for which the Cavender Auto Family is known,” Cavender Auto Family CEO Stephen Cavender said.
The dealerships, founded in 1952, have been owned and operated for the last 48 years by Dale Daniels. Cavender said they were attractive assets because of Reynolds’ reputation as a high-performing, family-owned business,
There were other factors that drove Cavender’s interest, including Ford’s strong positioning in Oklahoma.
As part of the transaction, the two dealerships will be rebranded as Cavender Ford of Oklahoma City and Confidence Ford of Norman.
Last May, Cavender Auto Family reached a deal with Alderson Automotive Group owner David Alderson to buy six dealerships in Lubbock and Midland. That transaction included dealerships selling BMW, Cadillac, Lexus, Mercedes Benz and Sprinter vehicles.
Roughly two months later, the Alamo City company said it was aligning with Cavender Herrera Autoworks LP in Austin to develop the largest Subaru dealership in North America.
Cavender officials said this latest deal is a good fit because the Oklahoma properties have operated under similar core values. The change in operations is effective as of May 23.
Daniels said while the transition will be bittersweet, he feels confident knowing the dealerships will be in good hands.
“I was extremely particular when looking to turn my dealership, and I was really pleased when meeting the Cavenders,” he said. “Looking at their history and the importance that they put on customer satisfaction and goodwill, they’re going to be a good fit for the Oklahoma community.”