Castle Automotive Group Acquisition
Castle Automotive Group Acquisition
OAK BROOK, Ill. - September 30, 2022 - (Newswire.com)
Castle Automotive Group (CAG), a growing automotive retailer with corporate headquarters in Oakbrook Terrace, IL, has completed two transactions this year with the acquisition of Naperville Chrysler Dodge Jeep Ram and Gary Lang Auto Group in McHenry. These two acquisitions bring Castle Automotive Group to 14 locations and 26 new car franchises throughout Illinois and Northwest Indiana with a strong portfolio of brands - Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Jeep, Kia, Lincoln, Mitsubishi, RAM, Subaru and Volkswagen.
"First of all, I would like to say thank you and congratulations to Ed Burke, President of Naperville CDJR and Gary Lang, President of Gary Lang Auto Group. Both of these gentlemen were a pleasure to work with from the day we engaged all the way through a seamless buy-sell transaction. When entering into these large and very emotional transactions, it is very important to me that all parties are treated fairly and with respect to their legacies, people, and communities. I wish both of them the best in their next chapter of life. Also, thank you to my acquisitions teams at CAG, Andrew Dorgan and DSMC, VP of M&A Jennifer Rafael, and financial partner Ally for working you tails off this year to bring these 2 deals to the finish line.
"On a business note, we feel these 2 acquisitions are the right fit for our company with the right brands in the right locations. We are proud to have added Kia and Cadillac to our portfolio, as well as our third Chevrolet franchise and second CDJR, Subaru, Buick, GMC, and Mitsubishi franchise. This gives our company a lot of scalability in a highly competitive market. It has been a busy year for us and all involved to make this happen. I look forward to welcoming and onboarding all of the 200+ employees, their families, and 11 additional new car franchises to the CAG platform from these transactions." -Joe Castle, CEO of Castle Automotive Group
About Stellantis.
Stellantis N.V. is a multinational automotive manufacturing corporation formed in 2021. The principal activity of Stellantis is the design, development, manufacture and sale of automobiles bearing its 16 brands of Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram and Vauxhall. At the time of the merger, Stellantis had approximately 300,000 employees, a presence in more than 130 countries with manufacturing facilities in 30 countries.
About Kia.
Headquartered in Irvine, California, Kia America continues to top automotive quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the "Official Automotive Partner" of the NBA and offers a range of gasoline, hybrid, plug-in hybrid and electrified vehicles sold through a network of nearly 750 dealers in the U.S., including several cars and SUVs proudly assembled in America.
About Subaru.
Subaru of America is committed to being a positive force in the world and acting as a good corporate citizen through responsible leadership, ethical business practices, and environmental protection. In addition to the corporate headquarters in Camden, New Jersey, and the zero-landfill assembly plant in Lafayette, Indiana, Subaru has eight regional distribution offices, three regional offices, 12 zone offices, and more than 600 retailers across the U.S.
About General Motors.
General Motors' goal is to deliver world-class customer experiences at every touchpoint and do so on a foundation of trust and transparency. Headquartered in Detroit, Michigan, with employees around the world, General Motors is a company with global scale and capabilities. They employ over 155,000 people, serve six continents with a diverse workforce speaking 75 languages.
About Castle Automotive Group (CAG)
Castle Automotive Group (CAG) currently owns 10 locations throughout Illinois and Northwest Indiana representing Domestic, Asian, and Germain brands. Castle also offers customers a wide range of automotive products and services, including new and used vehicle sales and related financing and insurance products, service contracts, vehicle repair and maintenance programs, and OE parts. Looking towards the future, this acquisition will further Castle Automotive Group's initiative to partner with more EV-focused brands as the automotive industry moves towards that, as well as its plans to continue innovation and investment. Castle Automotive Group will continue to invest in top markets throughout the Chicagoland area through various programs, such as the Castle Buy Center, Castle Credit Center, and CastleCars.com, their Direct-To-Consumer buying experience. These programs are set in place to offer a diverse range of solutions to simplify the online car buying and selling process. For more information, please visit www.castleautomotivegroup.com, www.castlecars.com, and www.castlecdjrnaperville.com & www.castleautoplexmchenry.com.
Contact Information:
Sean Seltzer
Chief Marketing Officer
sseltzer@castlecars.com
Press Release Service by Newswire.com
Original Source: Castle Automotive Group Completes 2 Massive Acquisitions: Naperville Chrysler Jeep Dodge Ram & Gary Lang Auto Group (Kia, Subaru, Chevrolet, Cadillac, Buick, GMC, Mitsubishi)
