Local Dealership

Dealership buy-sell moves from Md. to Calif. to Wisc.

Asbury Automotive Group has sold Kia of Owings Mills in Maryland and its related real estate to Stivers Automotive Group, according to a news release from The Presidio Group, which advised Presidio on the transaction.

With this move, Asbury continues its portfolio management efforts aimed at concentrating its resources on core business and key expansion opportunities. Meanwhile, the purchase represents Stivers’ first Kia store and gives it a footprint in the Mid-Atlantic.

“Kia has built an impressive product lineup and continues to strengthen its position with consumers, making this an attractive opportunity for our organization,” said Eddie Stivers, vice president of Stivers Automotive Group, in a news release.

“As we expand beyond our traditional brands and region, Kia of Owings Mills gives us an established foothold in a new market that we look forward to building upon. We appreciate the confidence Asbury and Presidio placed in us and commend Presidio for its top-notch professionalism and expertise, which was on display once again in this transaction.”

Asbury CEO Dan Clara added, “Consistent with our long-term value creation strategy, we continually evaluate our portfolio to ensure we are investing where we can best serve our shareholders, team members and guests.

“The decision to divest any dealership is not made lightly. We appreciate the guidance of the Presidio team in identifying the right buyer, and we are confident Stivers will be an excellent steward for the Kia of Owings Mills team.”

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