Village Automotive Group has sold its Lexus of Wayzata, Lexus of Maplewood and Village Chevrolet dealerships to a Chicago-based automotive group.
The dealerships were purchased by Ed Napleton Automotive Group, which operates more than 74 franchises in seven states with over 3,000 employees. Terms of the deal were not disclosed.
Brian Napleton, director of operations for Ed Napleton Automotive Group, said there aren't any major changes planned to the dealerships, besides a name change for Village Chevrolet. It will be renamed as Chevy of Wayzata.
"These are unbelievable assets and unbelievable performing dealerships," Napleton said. "We were eager to get involved."
The Lexus locations in Wayzata and Maplewood are the only designated Lexus dealerships in the state of Minnesota. The company's Village Chevrolet dealership in Wayzata has been owned by the Bloomer family for nearly 70 years.
"After 70 years in the auto dealership business, our family's decision to sell was a difficult one. We are happy to see Village Automotive Group transition to another family-owned dealership group who will continue our customer service and employee-focused legacy," Steve Bloomer, President and CEO of Village Automotive Group, said in a release.
California-based Kerrigan Advisors represented and advised Village Automotive Group in the sale. Bill Jonason and Mark Hamel of Dorsey & Whitney LLP is Village Automotive Group's legal counsel on the deal.