Dealership homeowners Jose Cazares and Lee Schreiber on Oct. 31, of their first three way partnership, purchased Reichert Chevrolet-Buick in Woodstock, Unwell., from John Reichert.
Reichert plans to retire, Cazares and Schreiber advised Automotive Information. The Buick model will stop operations on the retailer in as much as 120 days, per a termination settlement with Common Motors as a part of the duo’s buy-sell approval, Cazares and Schreiber mentioned.
They renamed the shop Woodstock Chevrolet. Woodstock is northwest of Chicago.
Schreiber’s grandfather ran a Ford dealership for greater than 50 years, and his father co-owned two dealerships, together with Bull Valley Ford in Woodstock, Unwell., the place Cazares and Schreiber had been colleagues from about 2011 to 2015.
Cazares purchased his first dealership, Freeport Ford in Illinois, in fall 2021. Across the identical time, Schreiber, who already owned Sterling Chevrolet in Illinois, was shopping for his second dealership, Dixon Ford-Volkswagen in Illinois. He purchased that retailer Oct. 1.
Throughout the gross sales, the chums and former colleagues commiserated.
“We went by the method collectively, and we collaborated on the entire course of,” Cazares mentioned. “We determined that if need to develop sooner or later, we must always attempt to do it collectively.”
The duo plans to merge all their enterprise operations within the subsequent yr or so, together with Cazares’ retailer in Freeport, and the shops now underneath the Schreiber Automotive umbrella.
“Like Jose mentioned, we collaborate and work nicely collectively,” Schreiber mentioned. “We’re each comparatively the identical age, so it really works for us.”
The homeowners mentioned they stored a lot of the employees and plan to modernize the Reichert Chevrolet-Buick constructing, together with including extra service stalls and new tools to extend effectivity.
Each Schreiber and Cazares, who say they share related objectives, values and progress methods, mentioned they’re trying to develop and diversify sooner or later, together with increasing past Illinois.
“Wherever the chance arises,” Cazares mentioned. “We are going to take it out of state if a possibility presents itself.”