New Mexico Stores Change Hands
Three dealerships owned by three brothers are renamed for a new partnership bridging the founders’ family and a new auto retail leader.
From left, Darryle, Bryce and Brad Bender, Frank Pena and Gary Bender outside the Chevrolet GMC store that was part of the three-dealership transaction.
Pinnacle Mergers & Acquisitions
Three brothers sold their trio of New Mexico auto dealerships, handing the reigns to a new generation of the family partnered with a first-time dealer.
The Bender brothers had run the dealerships in Clovis near the Texas state line since buying them from their father in 1991. They decided to retire and arranged for the sale of the Chevrolet-GMC, Chrysler Dodge Jeep Ram and Honda-Nissan stores while keeping a member of the family involved in the business.
First-time dealer Frank Pena bought the dealerships and will operate them as dealer principal with one of the Benders’ son, Brad Bender, as minority owner and managing partner of the small auto group. The dealerships were renamed for the new Pena Bender brand.
Pinnacle Mergers & Acquisitions represented the sellers in the transaction.
“Having a relationship with four OEMs and acquiring a business with strong historical earnings, I feel I am well-positioned for future acquisitions and continued growth,” Pena said.
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