The Presidio Group Exclusively Advised Fletcher Jones Automotive Group on the Sale of a Northern California Porsche Dealership to Sonic Automotive
The Presidio Group LLC ("Presidio"), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Fletcher Jones Automotive Group ("Fletcher Jones") on the sale of Porsche Walnut Creek in Walnut Creek, Calif., and its related real estate, to Sonic Automotive, Inc. ("Sonic") (NYSE: SAH). The transaction closed on August 25.
With the transaction, Fletcher Jones continues its strategic portfolio management moves and completes its exit from Northern California.
"In recent years, we’ve taken steps to hone our dealership portfolio to focus on the markets that best align with our long-term objectives and where we have longstanding operations and significant scale in luxury automotive retail," said Keith May, president of Fletcher Jones Automotive Group. "The sale of Porsche Walnut Creek is another step in that effort, and Sonic is well positioned to continue the dealership's success. Presidio’s guidance throughout the process was exceptional as usual; the firm’sunmatched understanding of the dealership buy-sell landscape and its proven execution capabilities once again surpassed our expectations.”
