David Maus no longer does “whatever it takes,” at least not in Central Florida. But billionaire Warren Buffett soon will.
In July, Maus sold his minority partnership stake in the portfolio of Central Florida auto dealerships – including 3 in Sanford – that bore his name for $20 million back to Van Tuyl Group Inc., the nation’s largest privately-owned auto dealership group.
Today the Orlando Business Journal is reporting that Warren Buffett’s Berkeshire Hathaway has inked a deal to purchase Van Tuyl Group for an undisclosed sum.
The deal is expected to close in the first quarter of 2015. The new company will be based in Dallas and be known as Berkeshire Hathaway Automotive.
In the deal Buffet’s firm is buying an $8-billion per year operation that includes 78 dealerships in Arizona, California, Florida, Georgia, Illinois, Indiana, Missouri, Nebraska, New Mexico and Texas.
Maus, meanwhile, is joining the newly formed First Team Automotive, a South Carolina firm that employees 400 people at it’s nine dealerships representing 15 brands.