Cavender Auto Family on Monday closed on its acquisition of six Texas luxury dealerships, doubling its store count to 12 and increasing annual revenue by about a fifth.
Cavender bought Audi, BMW, Cadillac, Lexus and Mercedes-Benz stores in Lubbock and a Mercedes-Benz dealership in Midland from David Alderson of Alderson Auto Group. The deal was announced in early May, pending automaker approvals. Terms weren’t disclosed.
The stores have been renamed Audi Lubbock, BMW of Lubbock, Cavender Cadillac of Lubbock, Cavender Lexus of Lubbock, Mercedes-Benz of Lubbock and Mercedes-Benz of Midland.
The Alderson group dates to 1949, when it launched with a Cadillac dealership.
San Antonio-based Cavender Auto Family ranks No. 65 on Automotive News’ list of the top 150 dealership groups based in the U.S., retailing 13,543 new vehicles in 2020.
The group, which includes a Polaris outlet, Carquest auto parts store and insurance company, generated more than $1 billion in revenue last year.