Dallas Automotive Group Sells to Family-owned Florida Firm Expanding Into Texas

Three Dallas automotive dealerships have been acquired by a family-run Florida ownership group.Roundtree Automotive Group sold the dealerships to Ed Morse Automotive Group of Delray Beach. Terms of the sale weren't disclosed.The dealerships will be renamed as:Freedom Chevrolet by Ed Morse, 8008 Marvin D. Love Freeway Freedom Buick GMC by Ed Morse, 3837 W. Wheatland Road Freedom Chrysler Dodge Jeep Ram by Ed Morse, 815 E. Camp Wisdom Road. "It's tremendously exciting to be expanding outside of Florida, which has been our home for over 70 years," said Teddy Morse, chairman and CEO of Ed Morse Automotive Group and grandson of the founder. "Dallas is a market that we've coveted for a long time and look forward to establishing our trusted family name in such an important region." Ed Morse Automotive Group, family owned for over 70 years, operates 16 dealerships that sell 13 automotive brands. The Dallas dealerships add over 260 employees to its 900-employee base. It was the 96th largest automotive group in the U.S. in 2017, according to a ranking by trade publication Automotive News. Its revenue topped $1 billion.Morse said in a statement that the company plans to make "significant capital improvements" in the Dallas dealerships.Roundtree Automotive Group, which owns dealerships from California to Louisiana, partnered in 2016 with Dallas private investment firm Lantern Capital Partners on a new venture that pledged to buy up "high-quality" auto dealers across the U.S. It became embroiled in a legal battle last year after it bought a Tulsa dealership for $46 million.   Continue reading...

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