HomeMorgan Auto bought Reeves Import Motorcars, and acquired 7 stores in Tampa, Florida.

Morgan Auto bought Reeves Import Motorcars, and acquired 7 stores in Tampa, Florida.

room Morgan Automotive Group The Tampa, Florida, company has bought a group of seven luxury-goods and import dealerships in Tampa, marking its largest acquisition to date based on the number of stores.

Morgan Auto, one of the country’s largest dealership groups, bought on Tuesday Reeves import cars of Vivian Reeves, retired, Morgan Auto CEO Brett Morgan said.

“For us, this is the most significant acquisition we’ve made, especially in the sense that it doubles the number of luxury rooftops,” Morgan said. Car News. “It’s in our hometown. They’re people we know in a market we know well. It takes us to a total of 21 decks in Tampa Bay.”

Reeves Import Motorcars included Audi Tampa, Reeves BMW of Tampa, Land Rover of Tampa, Maserati of Tampa, Porsche of Tampa, Reeves of Subaru of Tampa and Reeves of Volkswagen.

Audi, Porsche and Maserati are new Morgan Auto brands. Acquiring these brands has been a magnet for the group, Morgan said, adding that buying luxury retail agents in Florida is a challenge.

“If you look at the Florida trail, you’ll find that some of the bigger audiences were right here in front of us – AutoNation and Asbury,” Morgan said. “They have a higher penetration of luxury brands than we do. That was very attractive to us, especially a brand like Porsche in the metro market and Audi in the metro market.”

The group is now known as Morgan Import Motorcars. Morgan keeps the names of the Audi and Land Rover stores, but has changed the other names. The new names are: BMW of Tampa, Maserati Tampa, Porsche Tampa, Subaru of North Tampa and Volkswagen of North Tampa.

Terms of the deal were not disclosed. Neither side used a mediator, Morgan said.

Reeves has owned the dealership group since 1971, starting with a Volkswagen dealer.

“This was actually the third time we had conversations with Vivian about an acquisition,” Morgan said.

Morgan said Kelly Rogers, general manager of Reeves Import Motorcars, remains and will work with Victor Young, who will be the regional platform manager for Morgan Import Motorcars. Young is a partner in three other Morgan agents.

Morgan Auto now has 53 dealerships, all in Florida. in August, Fuccillo bought the Nissan of Clearwater From the Fucello Automotive Group.

Larry Morgan, Brett’s father, Turned one tire shop into a Tires Plus empire of 600 stores, which he sold in 2001. Larry Morgan came out of retirement in 2004 and invested in Kuhn Honda-Volkswagen in Tampa. The Morgan Group later purchased this store.

For about a decade, the Morgan Group bought about one agency a year. Then, in a five-year period from 2015 to 2020, the group acquired 32 stores.

Morgan is ranked No. 11 in Car NewsList 150 biggest selling group Based in the United States, 41,842 new cars were sold retail in 2020.

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