Newspaper article The Florida Times Union

Coggin-Buddy Hutchinson Merger Nearly Complete

Newspaper article The Florida Times Union

Coggin-Buddy Hutchinson Merger Nearly Complete

Article excerpt

The merger between Coggin Automotive Group and Buddy Hutchinson Motors is nearly complete, Coggin officials said.

As of April 28, Hutchinson's Jacksonville dealerships -- Toyota and Chevrolet -- fall under the Coggin umbrella. Coggin's merger with Hutchinson's Honda-Mazda dealership in St. Augustine is expected to be completed later this month.

In December, the dealership chains announced that they would become one, forming the largest automotive group in Northeast Florida.

The merger also includes the absorption of three Deland dealerships that had been owned by Ed Lacey.

Under the mergers, Luther Coggin will remain as chairman and chief executive of Coggin Automotive Group, Buddy Hutchinson is vice chairman and Ed Lacey will head his management team in Deland. Charlie Tomm remains as president and chief operating officer of Coggin.

Terms of the sale were not disclosed, but the consolidated dealerships will bring in revenues in excess of $800 million on retail sales of 35,000 cars a year.

YOU WANT SHOES?

La Rose Footwear, at 33 Monroe St., is going out of business with a three-week blowout sale that even Imelda Marcos would love.

The boutique, with its offerings of footwear and handbags from the '40s to late '70s is selling its entire stock -- more than 15,000 pairs -- for $40 each.

Joseph LaRose, who opened the store in 1949, died in December. Radford Brown and Cesar Padilla, who purchased the LaRose inventory will be selling some of the shoes at their New York vintage store and the balance will be sold in Jacksonville.

The sale starts Thursday from 10 a.m. to 8 p.m., but for those of you who can't wait until then, there is an advanced preview sale tomorrow and Wednesday. Admission to the preview sale days is $50 and is good for both days. Call 353-0585 for more information.

SHOPPING POST-WEB

A survey on projected retail shopping trends conducted recently by Chain Store Age and Roper suggests that consumers will be seeking discounts on the items they like to buy most when shopping online. Eighty-five percent of those surveyed said they would favor such price breaks, especially since Web shopping gives e-tailers an instant record of what their customers buy. …

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