Wilson Automotive Group in Orange will spend more than $100 million on two acquisitions, including a deal to buy a Toyota dealership from Fletcher Jones Motorcars.
David Wilson, owner and chief executive of Wilson Automotive, said Fletcher Jones Toyota Scion in Las Vegas fetched $75 million. The dealership had $125 million in revenue last year, and he said he expects annual sales to reach $200 million to $250 million.
The Wilson Automotive also expects to close a $30 million deal for Villa Ford in Orange. The estimated full year revenue for that dealership is $100 million.
Wilson Automotive already has more than 2,000 employees working at 17 dealerships, with seven under the Toyota brand, three Lexus and Honda dealerships each, and one dealership per brand for Acura, Ford, Mazda and Volkswagen.
