LaFontaine Automotive Group has acquired Pfeiffer Lincoln in Grand Rapids, Mich., marking the second Grand Rapids dealership for the Highland, Mich., group as it continues to expand into western Michigan.
The acquisition, which closed Monday, follows LaFontaine Automotive’s August purchase of Keller Ford. The Lincoln store purchased from the Pfeiffer family was renamed LaFontaine Lincoln Grand Rapids.
“In short order, we’ve seen tremendous opportunity in the greater Grand Rapids area for continued growth for our group,” LaFontaine CEO Ryan LaFontaine said in a statement.
LaFontaine Automotive now has 53 franchises, representing 24 brands and nine collision centers, all in Michigan. The Pfeiffer purchase is its second Lincoln dealership.
The transaction also included Pfeiffer’s wholesale parts distribution center, which LaFontaine Automotive said was the largest Ford wholesale parts distributor in Michigan, with annual sales of more than $21 million.
Pfeiffer Lincoln was started in the mid-1960s by Dan Pfeiffer, who died in 2021.
LaFontaine Automotive said it is updating dealership technology and bolstering staff, has increased used-vehicle inventory and is working to update the service department.
In 2022, LaFontaine Automotive said it sold more than 50,000 total vehicles and serviced more than 275,000. This year, it projects it will sell more than 55,000 combined used and new vehicles and service more than 325,000.
LaFontaine Automotive ranks No. 33 on Automotive News‘ most recent list of the top 150 dealership groups based in the U.S., retailing 24,399 new vehicles in 2021.
Mike Toth, managing director of Haig Partners, a buy-sell firm in Fort Lauderdale, Fla., represented the seller in the transaction.