OREANDA-NEWS. Sojitz Corporation (“Sojitz”) has acquired the franchise rights and assets of Mill Valley Imports, Inc. (dba Sonnen BMW; “Mill Valley Imports”), an authorized BMW brand dealership in San Rafael, California.

Mill Valley Imports is located in a high-income area. Since its founding in 1977, it has built a solid customer base through sales of BMW brand vehicles.

In 1987, Sojitz acquired a controlling interest in Weatherford Motors, Inc. (“Weatherford”), an authorized BMW brand dealership based in Berkeley, California. This has enabled Sojitz to build a wealth of business acumen and a strong track record of sales in the area. Later, in 2014, Sojitz transformed the Bay Area operations into a two-store setup through acquisition of Import Motors, Inc. (“Import Motors”), an authorized BMW and MINI brand dealership based in Concord.

The Californian automotive market is the largest in the United States, accounting for more than 10% of the country’s population and GDP. Furthermore, the California boasts  higher market share for premium brand vehicles than anywhere in the U.S., and this market is expect to grow further in the future. The acquisition of the Mill Valley franchise marks the creation of a three-store setup in the San Francisco Bay Area, and by pursuing synergy between these three dealerships, Sojitz will aim for higher sales, better service, streamlined management, and increased business value.

Sojitz will construct a stable earnings foundation in the mid- to long-term by utilizing the abundant experience gained through Weatherford and Import Motors to pursue a stronger dealership business in the continuously growing U.S. auto market. Additionally, Sojitz is aiming to expand the dealership business into new markets outside of the U.S. to create new opportunities for future growth.