Performance Brokerage Services, an automotive dealership broker, announces the successful sale of Vista Honda in Ventura, California to Victory Automotive Group.
Jeffrey Cappo will undoubtedly turn the new acquisition into a huge success by empowering Ocean Honda of Ventura with the same business philosophy that has contributed to the group’s ranking as a Top 50 automotive dealership group in the United States.
The late Mr. Steve Shuken, prominent owner of multiple car dealerships in California, acquired Vista Honda on March 15, 1989. At that time, the dealership was named Santa Paula Honda and was located in Santa Paula, California. Mr. Steve Shuken met with executives at American Honda Motor Company to propose relocating the Honda franchise to the city of Ventura, a larger market. After rejecting his proposal, it was uncovered that Vista Honda was a small part of a much larger scheme later known as the “Honda Scandal,” in which 18 former executives were convicted of racketeering and federal fraud charges. Mr. Steve Shuken ultimately relocated the franchise to Ventura and eventually brought his son and daughter, Jon and Tori Shuken, to run the day-to-day operations.
For fifteen years, the Shuken family owned and operated Vista Honda and submerged itself as part of the Ventura community. With the assistance of Performance Brokerage Services, new car dealership brokers, the Shuken family chose to sell their car dealership, Vista Honda, to one of the nation’s Top 50 auto dealership groups, Victory Automotive Group, knowing that their family legacy will be carried on and its goodwill will be preserved. The Shuken family will continue to own and operate Vista Ford Lincoln in Woodland Hills and in Oxnard, California.
New owner Jeffrey Cappo re-named the dealership Ocean Honda of Ventura, located at 6450 Auto Center Drive. Building himself an automotive empire, Victory Automotive Group is now comprised of 30 retail locations including 12 Honda dealerships. Over the years, Jeffrey Cappo shifted his focus from the Southeast region towards expansion in California. With its latest acquisition of Vista Honda, Victory Automotive Group increases its portfolio in California to 7 dealerships.
Jason Stopnitzky, a Partner at Performance Brokerage Services and the representative for this transaction said the following after the closing: “Jeffrey Cappo will undoubtedly turn the new acquisition into a huge success by empowering Ocean Honda of Ventura with the same business philosophy that has contributed to the group’s ranking as a Top 50 automotive dealership group in the United States.