Craft Automotive Group of Lynchburg, Va., claimed final week that it has signed an settlement to offer its three dealerships to Carter Myers Automotive, a increasing dealership group in Charlottesville, Va.
The agreement for Craft Automotive to sell Billy Craft Honda, Billy Craft Chrysler-Dodge-Jeep-Ram and Craft Hyundai, all in Lynchburg, to Carter Myers will become effective on Aug. 24, according to a assertion signed by Craft Automotive President Kendall Craft and verified by Carter Myers CEO Liza Borches.
“We’ve regarded the Craft family for really a few of generations now,” Borches told Automotive Information. “Mr. Billy Craft and my father were being in the company alongside one another and I have recognised Kendall Craft although the Virginia Automobile Dealers Affiliation and have worked with him now for fairly a several years.
“It definitely was important to the Craft family members to provide to another family members-owned firm.”
All Craft associates and general managers will be invited to stay, Borches stated. Carter Myers’ associates, through an staff inventory ownership system, own 26 per cent of the enterprise. Borches stated her firm’s employee ownership framework was another component in Craft’s choice to provide his shops to Carter Myers.