New York’s Vision Automotive Group sold 10 dealerships to Atlantic Coast Automotive Inc., according to the Rochester Business Journal and a person briefed on the transaction.
Atlantic Coast Automotive, of Miami Lakes, Fla., bought three Hyundai stores, three Nissan stores, two Kia dealerships, a Chrysler-Dodge-Jeep-Ram store and a Buick-GMC store. The dealerships are in Rochester, East Rochester, Webster and Canandaigua. Those cities are part of Greater Rochester in upstate New York.
The deal marks Atlantic Coast’s second dealership acquisition in the state this the year. In May, it bought six dealerships in upstate New York from Nye Automotive Group.
The bulk of the Atlantic Coast-Vision Automotive transaction took place in mid-September, according to the person. A Sept. 30 Rochester Business Journal story said property deeds for stores located in Monroe County were filed that day and on Sept. 29 for dealerships in Ontario County.
The story, citing public records, said the purchase price for the property tied to the deal was $21.3 million, but it did not specify whether $1.3 million paid for another property in Rochester was included in that total.
A spokesman from Kia America confirmed to Automotive News that the two Vision Kia dealerships changed ownership, though he did not provide further details.
The Rochester Business Journal reported that Vision Automotive was owned by Daniel Edwards.
Atlantic Coast’s Ali Ahmed and management for Vision Automotive did not return several messages seeking comment.
The person familiar with the transaction said each of the dealerships will continue to operate under the Vision name.
The Rochester Business Journal story did not include the sale of the Buick-GMC dealership, though the person said that transaction closed two weeks ago. A woman at the dealership confirmed that new management is based out of Florida.
Atlantic Coast in June 2021 bought two Kia stores in Virginia. The company also owns dealerships in Pennsylvania, Maryland and Florida.
The group was slated to buy six dealerships in West Virginia and Florida from LMP Automotive Holdings Inc. in a deal LMP announced in August. Atlantic Coast terminated that deal, LMP disclosed in October.