When it comes to acquisitions, Greene said the group has found dealerships first and the partner second, while in other instances, Dobbs Family Automotive has sought acquisition opportunities for existing partners.
Greene told Automotive News in an email that the group wants to grow in the mid-South and Southeast of the U.S. but also likes the Midwest.
Greene said the closer the prospective acquisitions are in proximity to Dobbs Family Automotive’s Memphis headquarters, the more aggressive the group will be.
“But honestly if a great opportunity presented itself farther away, we would definitely want to strongly consider that,” Greene said in an interview. “That’s the reason we’ve got the two stores in Connecticut. We thought those were good opportunities for us to enhance the business and grow.”
James Dobbs and Hull also were known for their shrewd business decisions with lasting impacts.
In 1942, as U.S. new-vehicle production was paused for tanks, planes and other machines for World War II, the retailer borrowed $6.5 million and bought more than 3,000 new and used vehicles and stored them in warehouses across the country. When the war was over and soldiers returned home, it became a boon for the company, as inventory elsewhere was nonexistent.
And in the 1970s, the group added two budding import brands, Toyota and Honda, to its portfolio.
But as Dobbs Management Service expanded in auto retail, it also diversified into other industries.
Source: https://www.autonews.com/dealers/dobbs-family-automotive-ready-buy-car-dealerships
