Al Packer Ford

AL PACKER FORD/BALTIMORE TO BE ACQUIRED BY SCOTT DONAHOOMD Johnson, Inc. Serves as Exclusive Financial Advisor to Al Packer

Baltimore, Maryland- June 1st Al Packer Ford/Bel Air Road has announced the signing of a definitive purchase agreement to sell its Ford franchise on Bel Air road, and associated real estate to Scott Donahoo of Foreign Motors, Inc. for an undisclosed sum. Donahoo is a Kia and Suzuki dealer at a nearby location. The closing of the transaction is subject to standard factory approvals.

MD Johnson, Inc, served as the exclusive financial advisor to Mark Packer and the Packer Family, owner(s) and initiated, structured and negotiated the transaction on behalf of the Packers.

The transaction is anticipated to close in the third quarter of 2004, following the completion of Ford Motor Companies approval of the transaction.

Al Packer Ford on Bel Air road is an iconic retailer of Ford products in Maryland and a legacy dealer for Ford Motor Company. The Packer family established the dealership in the 1950’s. Following the acquisition, it is anticipated that the dealership will operate as Donahoo Ford.

Mark Packer, dealer principal of the Bel Air road and Whitemarsh dealership(s) commented that “ the sale of the Bel Air road dealership will give myself and my staff the opportunity to put 100% of our concentration on our new Ford dealership in Whitemarsh, Maryland”. Al Packer Ford Bel Air Rd is located close to downtown Baltimore in a long established automotive market area. Donahoo commented that ” the acquisition of the dealership is an excellent opportunity to further grow our automotive platform in the Bel Air Road market area”. MD Johnson, Inc also represents the Packer Family in the sale of the families other automotive holdings in the Baltimore area. The Packer family also owns a new Ford facility and point in Whitemarsh Maryland, which is not being sold, but retained for the family members of Al Packer.