Parks Automotive Group buys Acura, Audi and BMW dealerships

Growing Parks Automotive Group has entered a new market in Virginia with the acquisition of three luxury dealerships.

Parks Automotive of Kernersville, North Carolina, acquired Duncan Acura of Roanoke, Audi and BMW of Roanoke, all of Virginia, on Sept. 12 from Gary Duncan of Duncan Automotive Network, according to consulting firm Tim Lamb Group of Columbus, Ohio. . Bob Morris, Tim Lamb Group Southeast Regional Director, represented the seller in the transaction.

The two stores have been renamed Parks Acura and BMW of Roanoke, while the Audi Roanoke name remains. Roanoke is located in Southwest Virginia.

“We are excited to provide local residents with a world-class experience that exceeds expectations,” Adam Parks, president of Parks Automotive, said in a statement. “My family has been doing just that throughout the Carolinas for over 50 years, and I can’t wait to build on our legacy here in Roanoke.”

Acura, Audi and BMW are new brands in the group’s portfolio, Parks, 2012 year Automotive news 40 Awarded to 40 yearsconfirmed by Automotive news in an email.

The acquisition strengthens Parks Automotive’s presence in Virginia. The group has a Chevrolet store in the state capital, Richmond, according to the car dealer’s website.

Parks confirmed the deal after two acquisitions last year and is the first acquisition since the group bought a Ford store in Hendersonville, North Carolina in November 2021. Parks Automotive also acquired a Chevrolet dealership in Spartanburg, South Carolina in October 2021.