The proposal values Toyota Industries, which makes looms for textile manufacturing as well as parts for Toyota’s cars, at ¥6 trillion ($42 billion), Bloomberg reported.
Dealerships sell across eight states in the latest deals tracked by Automotive News.
Ackman is wagering that Hertz can get past a bad bet on Tesla EVs and capitalize on a potential rise in used-car prices stemming from President Donald Trump’s tariff on U.S. auto imports.
Automotive News' top 150 dealership groups buy and sell stores in 2024 and the first quarter of 2025.
The pair of unrelated April deals follow a series of others in what has been a busy start for Canada's buy-sell market in 2025.
President Donald Trump's auto tariffs have dealership buyers and sellers questioning the impact on the auto retail market.
AutoNation Inc. and four other auto retailers ranked on Automotive News' list of the top 150 dealership groups based in the U.S., were involved in the latest store merger and acquisition deals.
A South Carolina Volvo dealership was among the stores that traded hands in the latest buy-sell transactions tracked by Automotive News.
Acquisitions will bring Grubbs group's dealership count to 12 in Texas and Oklahoma.
Bennett Automotive, which also owns two new-vehicle dealerships and a truck rental business in London, Ont., has owned the Windsor Stellantis store for nearly 20 years.
Fresh off several 2024 dealership sales, AutoNation Inc. bought two Colorado dealerships in the first quarter.
Ontario's Performance Auto Group and B.C.'s Trotman Auto Group added to their portfolios in unrelated acquisitions.
ADAC CEO Jon Husby said the deal “supercharges” the company’s ongoing diversification strategy by tapping into more Tier 2 automotive business.
