TheoDavies sells
auto dealerships
The six auto dealerships belonging to Theo Davies Co. Ltd. have been sold for $100 million, according to a South Carolina businessman quoted in a Charleston newspaper.
On Sept. 24 the Star-Bulletin reported the dealerships were for sale and that Nevada-based Fletcher Jones Management Group Inc. was kicking the tires.
Mainland automobile dealers Gene Reed Jr. and Fletcher Jones combined forces to buy the dealerships and related businesses from Hong Kong-based Jardine Holding Co., according to The Post and Courier report.
TheoDavies has the exclusive automotive franchises in Hawaii for Mercedes-Benz, Jaguar, Porsche and Land Rover. It also sells Honda automobiles, along with other dealers.
Jardine Matheson Ltd. is a publicly traded company that keeps information close to the vest. Spokeswoman Joanna Sin would not confirm existence of a deal.
Reed did not return Star-Bulletin calls, nor did Fletcher Jones Jr.
Gary Wassel, president of Jardine Hawaii Motor Holdings Inc. and Jardine Hawaii Imports Inc., was traveling and could not be reached. Other company executives declined comment.
