Craft Automotive Team of Lynchburg, Va., mentioned last 7 days that it has signed an agreement to market its 3 dealerships to Carter Myers Automotive, a rising dealership group in Charlottesville, Va.
The arrangement for Craft Automotive to provide Billy Craft Honda, Billy Craft Chrysler-Dodge-Jeep-Ram and Craft Hyundai, all in Lynchburg, to Carter Myers gets to be helpful on Aug. 24, according to a statement signed by Craft Automotive President Kendall Craft and confirmed by Carter Myers CEO Liza Borches.
“We have recognised the Craft relatives for really a few of generations now,” Borches informed Automotive News. “Mr. Billy Craft and my father ended up in the business alongside one another and I’ve regarded Kendall Craft nevertheless the Virginia Vehicle Sellers Association and have labored with him now for quite a several decades.
“It seriously was vital to the Craft loved ones to promote to a different family-owned business.”
All Craft associates and normal professionals will be invited to continue to be, Borches stated. Carter Myers’ associates, as a result of an personnel inventory ownership approach, have 26 % of the corporation. Borches said her firm’s worker possession structure was a further factor in Craft’s selection to promote his merchants to Carter Myers.