Ciocca Dealerships, based in Quakertown, said it acquired its 12th dealership after buying Reedman-Toll Chevrolet in Exton, Chester County on Thursday.
Gregg Ciocca, owner and founder of Ciocca Dealerships, said this dealership would be the third Chevrolet store for the Ciocca family of dealerships, with one in Quakertown and another in Princeton, N.J.
He estimated the total real estate, construction and franchise purchase costs to be about $15 million for the West Chester dealership.
Ciocca said he is buying four more dealerships between now and March 11, when he plans to settle on the transactions.
“We are very bullish on the Lehigh Valley,” Ciocca said. “That’s a target market for us to expand. All of our agencies are really successful but the Lehigh Valley really catapulted us. We are able to expand into other markets.”
In West Chester, Ciocca said his dealership already has a presence with its Buick GMC dealership. Ciocca Dealerships also purchased a property next to that, which is where its newest acquisition, Ciocca Chevrolet of West Chester, will call home.
He plans to begin construction to convert the Reedman-Toll Chevrolet dealership into the Ciocca Chevrolet of West Chester dealership in about six months. The site will be about 50,000 square feet and is open and operational as of today. He plans to complete the renovation of the building while staying open for business.
Ciocca said he hired a few employees from the Reedman-Toll Chevrolet dealership and will add a lot more of his dealerships’ own personnel, ultimately employing about 150 people once it’s complete in about two years.
He plans to use Boyle Construction of South Whitehall Township to renovate the site into the new dealership.
With this addition, the Ciocca family of dealerships has nearly $750 million in annual sales.