Performance Brokerage Services Facilitates Deal of Eich Mazda and Volkswagen to Luther Automotive Group
Performance Brokerage Services, a leader in dealership transactions, has successfully completed the sale of the historic Eich Mazda and Eich Volkswagen in Saint Cloud, Minnesota. This dealership is notable for being the seventh oldest in the United States and has a rich history dating back to 1898 when it was established as a wagon and buggy dealership. Originally expanding into the automotive sector in 1960 with Volkswagen and then adding Mazda in 1977, Eich Motor Company has become a longstanding pillar in the automotive industry for over 125 years.
Linda Eich-Desjardins, the fourth generation president of Eich Motor Company, worked closely with Performance Brokerage Services throughout the sale process. She shared her positive experience stating, "From our first conversations, Matt and Paul were professional, knowledgeable, and reassuring throughout what can often be an emotional and complex process. Their approach gave me confidence at every step and made me feel that my interests were always represented at the highest level."
Performance Brokerage Services, headquartered in Irvine, California, is renowned for having the highest volume of dealership sales in North America, with nearly 450 completed transactions over the last five years. This success is backed by an impressive closing rate of 90%, solidifying their reputation in the automotive brokerage landscape.
In this particular sale, Matt Willis, Paul Kechnie, and Jamie Farley from the Texas and Midwest offices of Performance Brokerage acted as exclusive sell-side advisors. Matt highlighted the significance of partnering with David Luther and the Luther Automotive Group, stating, "This was one of the smoothest transactions I've experienced. Not only did we ensure that the operational excellence established by Linda and her family was preserved, but we also found a buyer whose reputation aligns well with their legacy. The process felt less like a transaction and more like a passing of the torch from one esteemed dealer family to another. I'm excited for the future of the dealership under Luther's stewardship."
The Luther Automotive Group is recognized as one of the largest family-owned automotive groups in the Upper Midwest, representing over 27 automotive brands across more than 50 locations. For four consecutive years, they have been awarded gold for Minnesota’s Best Auto Dealerships, reflecting their commitment to excellence in service and customer satisfaction.
Eich Mazda and Eich Volkswagen will continue to operate under their existing names, ensuring that the legacy and heritage established over the decades are honored. As Linda prepares for a well-deserved retirement, the transaction marks a new chapter both for her family’s business and for the Luther Automotive Group as they continue to build on this remarkable legacy.
Performance Brokerage Services stands out by offering complimentary dealership value estimates without upfront costs and only charging a success fee upon closing the transaction. This unique approach, along with their extensive industry connections, has made them a trusted partner for dealership owners looking to transition out of the business or expand their operations.
As the automotive landscape continues to evolve, the strategic acquisition of Eich Mazda and Eich Volkswagen represents a significant move that not only provides growth opportunities for the Luther Automotive Group but also allows the Eich family’s legacy to thrive under dedicated stewardship. With a commitment to quality and customer service, the future looks bright for both businesses involved in this transaction.
Linda Eich-Desjardins, the fourth generation president of Eich Motor Company, worked closely with Performance Brokerage Services throughout the sale process. She shared her positive experience stating, "From our first conversations, Matt and Paul were professional, knowledgeable, and reassuring throughout what can often be an emotional and complex process. Their approach gave me confidence at every step and made me feel that my interests were always represented at the highest level."
Performance Brokerage Services, headquartered in Irvine, California, is renowned for having the highest volume of dealership sales in North America, with nearly 450 completed transactions over the last five years. This success is backed by an impressive closing rate of 90%, solidifying their reputation in the automotive brokerage landscape.
In this particular sale, Matt Willis, Paul Kechnie, and Jamie Farley from the Texas and Midwest offices of Performance Brokerage acted as exclusive sell-side advisors. Matt highlighted the significance of partnering with David Luther and the Luther Automotive Group, stating, "This was one of the smoothest transactions I've experienced. Not only did we ensure that the operational excellence established by Linda and her family was preserved, but we also found a buyer whose reputation aligns well with their legacy. The process felt less like a transaction and more like a passing of the torch from one esteemed dealer family to another. I'm excited for the future of the dealership under Luther's stewardship."
The Luther Automotive Group is recognized as one of the largest family-owned automotive groups in the Upper Midwest, representing over 27 automotive brands across more than 50 locations. For four consecutive years, they have been awarded gold for Minnesota’s Best Auto Dealerships, reflecting their commitment to excellence in service and customer satisfaction.
Eich Mazda and Eich Volkswagen will continue to operate under their existing names, ensuring that the legacy and heritage established over the decades are honored. As Linda prepares for a well-deserved retirement, the transaction marks a new chapter both for her family’s business and for the Luther Automotive Group as they continue to build on this remarkable legacy.
Performance Brokerage Services stands out by offering complimentary dealership value estimates without upfront costs and only charging a success fee upon closing the transaction. This unique approach, along with their extensive industry connections, has made them a trusted partner for dealership owners looking to transition out of the business or expand their operations.
As the automotive landscape continues to evolve, the strategic acquisition of Eich Mazda and Eich Volkswagen represents a significant move that not only provides growth opportunities for the Luther Automotive Group but also allows the Eich family’s legacy to thrive under dedicated stewardship. With a commitment to quality and customer service, the future looks bright for both businesses involved in this transaction.
Topics Consumer Products & Retail）
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