ORLANDO, Fla. – Berkshire Hathaway, Inc., announced on Thursday it has signed an agreement to acquire the Van Tuyl Group, the fifth-largest auto dealership group in the nation, which includes the David Maus automotive dealerships in Central Florida.
According to a news release from Berkshire Hathaway, once the deal is closed, the local dealerships will become part of Berkshire Hathaway Automotive, which will be headquartered in Dallas.
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The company will be led by Larry Van Tuyl, the release said.
According to the Orlando Business Journal, David Maus left the dealerships that bear his name in August after selling his stake in the business to the Van Tuyl Group for $20 million.
He had reportedly entered a deal to become chief operating officer of a group of automotive dealerships in the Carolinas, but backed out of the agreement one week after it was announced.
Sources close to Local 6 say Maus still lives in Central Florida.
"This is just the beginning for Berkshire Hathaway Automotive," said Berkshire Hathaway's Chairman and Chief Executive Officer, Warren Buffett.
The transaction is expected to be completed in the first quarter of 2015.
Local 6 is working to find out how the Central Florida dealerships could be affected by the deal.
Check back for more on this story.