Sweeney sold to #1 Cochran pending GM approval
A Valley business whose name that has become synonymous with auto sales in the Valley is changing hands.
Sweeney Chevrolet Buick GMC has announced that it has agreed to sell its assets to #1 Cochran, a Western Pennsylvania-based group of auto dealerships.
The transaction is pending formal approval by General Motors and is anticipated to close in mid-January 2023.
Sweeney employees are not anticipated to be affected by the ownership transition, according to a media release from the company.
"I'm confident that our community will embrace #1 Cochran much like they have the Sweeney brand over the past 100 years," said Alexa Sweeney Blackann, President. "They were interested in our business because of our strong market position and reputation in the Mahoning Valley. We've known Rob Cochran for decades and are confident his family-owned business will continue to build on the relationships we've established with our customers, employees and the community."
The Boardman dealership will be #1 Cochran's first in Ohio, and the Sweeney dealership will be its largest store on day 1.
"Cochran has a rich history with General Motors, as our first brand was Pontiac," said Neil Jennings, vice president and CFO at #1 Cochran. "As Sweeney is the largest GM dealer in Youngstown, Cochran is uniquely suited to carrying the torch for our Chevrolet and Buick GMC dealerships."
Prior to this acquisition, #1 Cochran operates 30 new-vehicle franchises comprised of 19 domestic and imported brands. It employs nearly 1,300 and has been voted a Pittsburgh "Top Workplace" 12 consecutive years by the Pittsburgh Post-Gazette.
"Cochran has a great reputation for keeping the teams in place, and we are expecting to continue post-closing with the same teams at Sweeney," Jennings said. "Both the same people you are used to dealing with and same great service."