Hendrick Automotive Group, the largest privately held automotive retail organization in the United States, has expanded its footprint in the luxury car market with the acquisition of Foreign Cars Italia from Paramount Automotive Group and owner Benny Yount. The transaction brings Ferrari, Alfa Romeo, Aston Martin, Bentley and Maserati into Hendrick Automotive Group’s current retail portfolio, while adding its third Porsche franchise.
The agreement includes the purchase of Foreign Cars Italia Charlotte and Foreign Cars Italia Greensboro, which represent six luxury vehicle brands across a total of eight franchises in two major North Carolina metro areas.
Hendrick Automotive Group’s newest locations include Ferrari of Charlotte at 416 Tyvola Road, along with Alfa Romeo of Charlotte, Aston Martin Charlotte, Bentley Charlotte and Maserati of Charlotte at 400 Tyvola Road. Ferrari of Greensboro, Maserati of Greensboro and Porsche Greensboro will be located at 5603 Roanne Way. Combined, the dealerships encompass more than 15 acres and over 100,000 square feet of facilities.
“I’ve known and respected Benny for many years. He and his team have earned a reputation as one of the premier luxury automotive retailers in the country and fostered the kind of people-first culture that we value,” said Rick Hendrick, chairman and CEO of Hendrick Automotive Group. “We’re committed to building on Foreign Cars Italia’s tremendous track record with discerning customers and providing the world-class experience they deserve and expect. These are the cars many people dream of, and we’re thrilled to offer them here in the Carolinas.”
Hendrick Automotive Group now operates 31 franchises in the Charlotte market, four in the Greensboro market, 68 in North Carolina and 140 nationally. Today there are 31 manufacturer nameplates under the Hendrick Automotive Group banner, up from 26. With the addition of nearly 130 team members through this acquisition, the company employs over 6,000 people in North Carolina and more than 11,000 across the United States.
“Foreign Cars Italia has been a staple among luxury automotive clients throughout the Southeast,” said Jeffrey “JB” Brown, president of Hendrick Automotive Group. “It’s hard to not to be passionate about the performance, craftsmanship and history associated with these iconic brands. With our focus on people and offering exceptional experiences for customers, this is a great fit and an exciting growth opportunity for our company.”
The franchises will offer an increased selection of new and pre-owned vehicles, with access to more than 30,000 cars, trucks and SUVs available for delivery through HendrickCars.com. For more information on current employment opportunities, please visit HendrickCareers.com. Hendrick Automotive Group is currently hiring sales and product specialists, service advisors, service technicians and other positions.
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