Mark McLarty's McLarty Automotive Group of Little Rock said Wednesday that it has purchased Frank Fletcher Honda of Columbia, Missouri, from Frank Fletcher of North Little Rock.
McLarty plans to rename the dealership Columbia Honda. Financial terms of the deal were not disclosed.
"Columbia is a dynamic economy with a wonderful local community, and Honda is a great brand with fantastic products," McLarty said in a news release. "We are excited by the opportunity to grow Columbia Honda from the strong foundation that exists today."
Columbia Honda is McLarty’s second Honda dealership acquisition in the region in the last six months. In August, McLarty acquired Bale Honda in Little Rock from John H. "Johnny" Bale and John Sahene and renamed it Landers McLarty Honda.
McLarty is founder and chairman of the McLarty Automotive Group, which owns and operates dealerships in the United States, Brazil, China and Mexico with combined revenue of more than $5 billion.
One of McLarty's ventures, China Grand Automotive Services Co. of Shanghai, sold last year for nearly $785 million to Haitong International Securities Group Ltd. of Hong Kong.
McLarty is part of family with deep roots in the auto industry. Mark is one of the sons of Thomas F. "Mack" McLarty, whose family has been in the automobile dealership business since 1921, and who has his own dealership holdings. A native of Hope, Mack McLarty was also White House chief of staff during the Clinton administration.
The Frank Fletcher Auto Group owns dealerships in Arkansas and Missouri. It is one of many companies controlled by Fletcher through his privately held Frank Fletcher Cos. of North Little Rock, which ranked No. 13 on Arkansas Business' most recent list of private companies in the state. In 2013, Frank Fletcher Cos. reported $705 million in revenue.
Fletcher is a 2013 inductee to the University of Arkansas' Arkansas Business Hall of Fame.