OMAHA, Neb. - The largest privately owned auto dealership group in the U.S. is set to be purchased by Warren Buffett's Berkshire Hathaway.
The deal to purchase Van Tuyl Group, which still needs to be approved by major auto manufacturers, is expected to close in the first quarter of 2015. No financial terms have been disclosed. The company will be renamed Berkshire Hathaway Automotive, and will be based in Dallas, Texas.
The company was started by Cecil Van Tuyl in 1955. Van Tuyl Group has more than 100 franchises and 78 independently operated dealerships in 10 states, including three dealerships in Decatur, Illinois.