Terry Rafih, CEO of Rafih Auto Group, said he had wanted to come back to the U.S. market after selling two Mercedes-Benz stores on the East Coast a few years ago. So, he bought three stores in nearby Ohio last month.
The East Coast stores were too far from his Windsor headquarters, and he received attractive offers for both, he said.
Rafih said he was interested in a trio of Bernie Moreno's stores partly because they were near Rafih's headquarters. Cleveland is less than 320 kilometres — about a three-hour drive — from Windsor.
The deal closed in late March with Bel Air Partners in Hopewell, N.J., handling the sale for Moreno. Terms weren't disclosed.
With the acquisitions, Rafih's dealership group now has 22 rooftops, with a range of luxury and domestic franchises in Windsor; London, Ont.; and the Toronto area.
He said the auto group is open to acquiring more U.S. stores, particularly luxury brands or certain domestic franchises in the Midwest.
"If the right opportunity came, we're definitely looking," he said.