Dealership buyers reach for their cash: Experts see 2012 shaping up as big year for acquisitions
Dealership buyers are on the prowl.
Large publicly held dealership groups have the money to buy and are looking at a larger range of targets than before -- including Chrysler Group franchises, which buyers have shunned for several years.
A dearth of deals during the recession, brokers say, left a backlog of potential mergers and acquisitions waiting to happen. They say privately held large dealership groups also are shopping for stores.
Alan Haig, co-head of automotive services for Presidio Group, of San Francisco, says the public companies spent $512.1 million on acquisitions in 2011. That was more than twice the $214 million in 2010 -- and far above a paltry $28 million in 2009.
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