Transaction overview
Giles Automotive acquired Pitre Kia of Las Cruces, with Mach10 Automotive serving as the exclusive advisor to both buyer and seller, according to a Jan. 26 announcement. Financial terms were not disclosed.
Strategic implications
- Giles adds its first Kia franchise, bringing its total to nine stores across Louisiana, Texas, California, and New Mexico.
- Pitre Automotive Group exits southern New Mexico but continues to operate multiple dealerships in the Albuquerque metro area.
- The move reflects targeted portfolio adjustments: brand and geographic expansion for Giles, market concentration for Pitre.
Statements from the parties
Seller Bob Pitre credited Mach10 for a professional, discreet, and results-focused process that met expectations, praising the team’s integrity and signaling openness to future engagements.
Buyer Bob Giles said Kia had been a strategic target and commended Mach10’s professionalism, responsiveness, and execution, calling the firm’s work a new standard in automotive M&A.
About the companies (as described in the release)
- Pitre Automotive Group: second-generation, family-owned operator active in the Southwest since the 1970s; the release highlights community partnerships (promotional characterization).
- Giles Automotive: expanded from a single dealership (founded 1982) to a multi-state group; notes community initiatives such as “Giles Gives Back” and Bob Giles being named 2022 TIME Dealer of the Year.
- Mach10 Automotive: described as a leading M&A advisor offering a fully integrated suite of performance optimization services and value-creation approach (promotional characterizations).
Undisclosed details
- Deal valuation, detailed financial terms, and closing timeline.
- Branding plans for the Las Cruces store (whether it retains the Pitre name), leadership or staffing changes.
- Any capital investments, product mix adjustments, facility updates, or changes to service operations and community partnerships under Giles’ ownership.
Context
The announcement focuses on the parties’ roles and the transaction specifics, aligning with broader trends of regional consolidation and brand diversification, but does not address the overall buy–sell market environment.
