Performance Brokerage Services, North America’s highest volume dealership brokerage firm, is pleased to announce the sale of L.T. Begnal Motor Company in Kingston, New York from Larry Begnal to Tasca Automotive Group.
L.T. Begnal Motor Company has been family owned and operated for over 50 years. The Kingston dealership, locally known as Begnal Motors, was founded in 1984 and originally operated on Albany Avenue in Kingston, New York. In 2017, the dealership relocated a short distance away to Route 28.
The dealership currently represents Chrysler, Dodge, Jeep, Ram and FIAT brands. In the past, the dealership also sold vehicles from several defunct manufacturers including Eagle, Isuzu, AMC and Renault.
Larry Begnal, President, commented, “Our family appreciated the way Gershon Rosenzweig and Matt Wilkins of Performance Brokerage Services listened to our wishes to find us a good buyer. They persevered and found us the right family to take over the reins at our 50-year dealership. They understood all the nooks and crannies of the transaction, resulting in an easy transition.”
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. In 2022, the company consummated 92 transactions, marking a record-breaking year. This transaction was exclusively facilitated by Performance Brokerage Services Northeast Office, managed by Senior Partner Gershon Rosenzweig and Partner Matt Wilkins.
Wilkins commented, “Gershon and I were very appreciative to have the opportunity to work with Larry, Brian, and Tim Begnal. They have built an excellent business over the past 50 years, and we wanted to find the best possible buyers for their family. When David and Carl Tasca showed interest, we knew we had found the right people to continue the Begnal legacy. The Begnal and Tasca families were both a pleasure to work with, highly responsive, and helpful getting the deal to completion. We wish Tasca Automotive Group much success and look forward to working with them again in the future as they continue to grow.”
Tasca Automotive Group is a fourth-generation family owned and operated dealership group founded in 1943 by Bob Tasca, Sr. In 1953, Bob opened his first Ford dealership in Bristol, Rhode Island. The dealership was destroyed by a hurricane less than a year after opening, and relocated to East Providence, Rhode Island. Bob’s new location grew rapidly and became the second largest Ford dealership in the world in the 1960’s. East Providence was also the birthplace of Tasca’s racing program and muscle cars such as the Ford Cobra Jet and the Tasca Street Boss.
In 1972, Bob opened Tasca Lincoln Mercury in Seekonk, Massachusetts. The dealership became the highest volume Lincoln Mercury dealership in the world from 1986-1988. Bob’s three sons also joined the family business at the Seekonk location. In 2002, Bob opened a flagship dealership in Cranston, Rhode Island selling Ford, Lincoln, Mercury, Mazda and Volvo brands. His grandsons and granddaughters also joined the business at this time. Bob Sr. passed away in 2010, leaving a tremendous legacy behind.
The Tasca Automotive group currently operates 20 dealerships across the Eastern United States and the family is still active in the racing world. The group is currently led by the next generations of the Tasca family, Carl, Bob Jr., and David, and continues to expand.
Following the sale, Carl Tasca, Principal, commented, “Gershon Rosenzweig, Matt Wilkins, and the entire Performance Brokerage team were outstanding to work with. They were professional, well organized, and very easy to do business with. We look forward to working with them again very soon.”
The dealership will remain at its current location at 129 Route 28 in Kingston, New York and will be renamed Tasca Chrysler Dodge Jeep Ram FIAT of Kingston.
Larry Begnal was represented by Brad A. Birmingham, Partner at Hodgson Russ, LLP in Buffalo, New York.
Tasca Automotive Group was represented by James P. Redding of Greenberg Traurig, LLP in Miami, Florida.