Fresno, California- November 25th- Rodeo Nissan of Fresno California has announced the signing of a definitive purchase agreement to sell its Nissan franchises and associated real estate to Asbury Automotive Group, Inc ( ABG ), for an undisclosed sum. Asbury is one of America’s 5 largest automotive retailers. The deal is subject to standard factory approvals. MD Johnson, Inc, served as the exclusive financial advisor to Michael Johnson, owner and initiated, structured and negotiated the transaction on behalf of Johnson. The transaction is anticipated to close in the fourth quarter of 2004, following the completion of Nissan Motors of America approval of the transaction.
Rodeo Nissan is a premier retailer of Nissan products, exclusively, on the dealerships 5-acre site in the heart of the Fresno/Clovis retail core. Following the acquisition, it is anticipated that the dealership will operate under Asbury’s branded platform in the Fresno/Clovis market. Asbury owns a premier Mercedes dealership in Fresno, also.