Bergstrom Automotive has reached an agreement to acquire Broadway Automotive for an undisclosed price.
Bergstrom and Broadway are both family-owned and operated. Bergstrom Automotive started in Neenah in 1982, expanded throughout the Fox River Valley, and then into Madison and Green Bay. Bergstrom has focused on growth in Green Bay in recent years acquiring and building state of the art facilities for Mazda and Subaru.
The Broadway acquisition solidifies Bergstrom’s position as the largest dealer in the Green Bay market, adding Ford and Hyundai on Military Avenue and Chevrolet and Volkswagen on Ashland Avenue.
Bergstrom will have over 1,000 employees working in the Green Bay market. The acquisition also includes Bergstrom’s first entrance into the Manitowoc area with the Chevrolet-GMC-Cadillac dealership on Grand Avenue.
Broadway Automotive was founded in Green Bay by the Cuene family on Broadway Avenue over 100 years ago. It has grown to be one of the largest sellers of new and used vehicles, parts, mechanical and body repair, and maintenance services in Northeast Wisconsin.
“When we looked at exiting the business it was very important that we found a buyer who shared the same commitment of care for our team, guests and communities,” said Broadway owner and managing partner Michael Cuene.
David Cuene, also owner and managing partner said, “Bergstrom Automotive was the right choice for us, being a local, family-owned organization with a reputation of guest excellence that will also offer ample growth opportunities for our team.”
Bergstrom Automotive represents all automotive makes sold in the United States, with the exception of luxury boutique brands. Bergstrom Automotive is ranked as one of the Top 75 dealership groups in the country by size.
Bergstrom said it annually donates 25% of its profits to support the communities where it has businesses and where employees live. Bergstrom Automotive has focused on supporting Boys & Girls Clubs, United Way, Make-A-Wish, Habitat for Humanity, Humane Associations, and cancer research through the Medical College of Wisconsin and UW Health. This year’s recently concluded Make-A-Wish Campaign crossed the $3 million dollars donated.
Bergstrom Automotive annually runs employee-driven United Way campaigns in Brown County, Oshkosh, and the Fox Cities, where Bergstrom donates a new car to each campaign as a prize to help encourage donations. They also match their team’s individual pledges with a percentage.
The similarities between the Bergstrom and Broadway Automotive footprints and histories had made them competitors over the years, but they had common cultures and histories.
John F. Bergstrom, Executive Chairman, said “Our families have been friends while competing over the years and we have always held the Cuene family in high regard for doing what was right when it came to business practices. In the automotive dealership business, strength comes from the teammates who staff the dealerships – because quality service is what makes us successful.”
The transition will begin in the next few weeks.
“Our plan is to hire every current teammate who wants to work with us and understands our guest focused culture,” shared Tim M. Bergstrom, President and CEO. “Those who join us will retain their Broadway tenure for their benefits with Bergstrom, rewarding them for their years of service.”
