MacPherson Confirms Sale of Dealerships to Republic

Veteran Orange County auto dealer Joe MacPherson confirmed Thursday that he has agreed to sell most of the dealerships in his Tustin-based MacPherson Enterprises chain to Republic Industries Inc.

MacPherson said that he will retain ownership of his Toyota dealership and a new Chevrolet dealership he is building in the nascent Foothill Ranch auto mall. He also will continue to own the real estate under a leasing operation and the Ford, Chevrolet, Infiniti and Mazda dealerships that Republic is purchasing.

MacPherson said the leasing company and dealerships have about 480 employees, and no personnel changes are anticipated under Republic ownership. He has signed a two-year contract to continue running the operation.

The deal culminates a yearlong courtship of MacPherson by Republic. Except for the existing MacPherson Chevrolet store in Irvine, the dealerships he is selling are in the Tustin Auto Center.

With the acquisition of the MacPherson dealerships, Republic would own 15 new-car franchises, a leasing business and an AutoNation used-car superstore in Orange County.

Republic officials declined to comment. The Florida-based company typically refuses to discuss dealership acquisitions until they are completed--a process that can take several months after a preliminary agreement.