SAN FRANCISCO, Calif., Dec. 23, 1998 - The Tasha Automotive Group ("Tasha"), the largest privately held chain of automotive dealerships in the Bay Area, signed a deal for the sale of the majority of its dealerships to Republic Industries, Inc. ("Republic"), the world's largest automotive retailer, on December 13. The sale of eight of Tasha's dealerships in Northern California was part of a complex purchase of ten automotive dealership groups throughout the country by Republic. The total value of the deal was $240 million with the transfer of the Tasha dealerships comprising more than half of that figure.
The terms of the deal were worked out in just over a week through round-the-clock negotiations. Representing Tasha in the marathon negotiations was Paul Escobosa, a partner specializing in business counseling and large corporate transactions at the San Francisco-based law firm of Coblentz, Patch, Duffy & Bass, LLP. Pending manufacturer approval, the transaction will include the transfer of Tasha's Dodge, Chrysler-Plymouth, Jeep-Eagle, Honda, Toyota, Nissan, Acura, Hyundai and Isuzu dealerships in Roseville, Santa Clara, Hayward and Fremont.
"We went through a similar process in 1997, when we represented the Anderson Dealership Group," said Escobosa. "Anderson sold its Menlo Park, Palo Alto, Los Gatos and Fremont dealerships to Republic in a deal valued at approximately $40 million. The deal between Republic and Tasha is substantially larger and more complex."