Jeffrey Cappo will undoubtedly turn the new acquisition into a huge success by empowering Ocean Honda of Ventura with the same business philosophy that has contributed to the group’s ranking as a Top 50 automotive dealership group in the United States.
Irvine, California (PRWEB) March 25, 2014
Performance Brokerage Services, an automotive dealership broker, announces the successful sale of Vista Honda in Ventura, California to Victory Automotive Group.
The late Mr. Steve Shuken, prominent owner of multiple car dealerships in California, acquired Vista Honda on March 15, 1989. At that time, the dealership was named Santa Paula Honda and was located in Santa Paula, California. Mr. Steve Shuken met with executives at American Honda Motor Company to propose relocating the Honda franchise to the city of Ventura, a larger market. After rejecting his proposal, it was uncovered that Vista Honda was a small part of a much larger scheme later known as the “Honda Scandal,” in which 18 former executives were convicted of racketeering and federal fraud charges. Mr. Steve Shuken ultimately relocated the franchise to Ventura and eventually brought his son and daughter, Jon and Tori Shuken, to run the day-to-day operations.
For fifteen years, the Shuken family owned and operated Vista Honda and submerged itself as part of the Ventura community. With the assistance of Performance Brokerage Services, new car dealership brokers, the Shuken family chose to sell their car dealership, Vista Honda, to one of the nation’s Top 50 auto dealership groups, Victory Automotive Group, knowing that their family legacy will be carried on and its goodwill will be preserved. The Shuken family will continue to own and operate Vista Ford Lincoln in Woodland Hills and in Oxnard, California.
New owner Jeffrey Cappo re-named the dealership Ocean Honda of Ventura, located at 6450 Auto Center Drive. Building himself an automotive empire, Victory Automotive Group is now comprised of 30 retail locations including 12 Honda dealerships. Over the years, Jeffrey Cappo shifted his focus from the Southeast region towards expansion in California. With its latest acquisition of Vista Honda, Victory Automotive Group increases its portfolio in California to 7 dealerships.
Jason Stopnitzky, a Partner at Performance Brokerage Services and the representative for this transaction said the following after the closing: “Jeffrey Cappo will undoubtedly turn the new acquisition into a huge success by empowering Ocean Honda of Ventura with the same business philosophy that has contributed to the group’s ranking as a Top 50 automotive dealership group in the United States.
About Performance Brokerage Services
Performance Brokerage Services, an auto dealership broker firm, specializes in professional intermediary services to buyers and sellers of automotive, Harley-Davidson and Powersports dealerships.
The company offers a different approach to the automotive brokerage industry by providing free dealership assessments, no upfront fees, no reimbursement of costs and is paid a success fee only. Performance Brokerage Services gets paid only after the client gets paid.
The mediators at Performance Brokerage Services have been involved in well over 400 transactions.
With over 22 years of experience, the company utilizes an extensive network of industry related accountants, attorneys, hundreds of registered buyers and enjoys longstanding relationships with most of the auto manufacturers.
Pledging loyal and unwavering representation, confidentiality is vigilantly protected during the selling process and after the transaction closes.
With corporate offices in Irvine, California and three satellite offices in Utah, Florida and New Jersey, Performance Brokerage Services provides national exposure with local representation.