Keating, others buy Victoria Toyota dealership
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For more information on Blackwood Toyota, visit its website.
Blackwood Toyota will soon be under new ownership.
A deal is in the works for a group of businesspeople, including Ben Keating and Don Whitaker, to purchase the Victoria dealership.
"We've all agreed on a deal, and we have it under contract," Keating said. "We just have to wait for approvals to come in."
The company made the official announcement to employees Tuesday, he said, and the deal should be complete in August.
Blackwood Toyota has been family owned and operated since 1994, according to the company website. Owner Kenneth Blackwood Sr. died in October 2010, and his son, Vice President and General Manager Kenneth Blackwood Jr., died in December.
Bonita Blackwood, company owner and Kenneth Blackwood Sr.'s wife, confirmed the sale, but declined to comment further Wednesday.
Blackwood's name will change to Toyota of Victoria, Keating said, but the business itself should remain largely the same.
"It's a very well-run store right now," he said, noting the existing employees will remain on board. "They all do a very good job, and I definitely want to grow the business. I don't want to change what they're doing."
Keating said the business move made sense.
The Victoria resident owns seven dealerships throughout the state, he said, but none in Victoria. Also, he added, his other dealerships only offer domestic cars.
"I'm excited to have a Toyota store because it's something different," he said.
Blackwood Toyota's location at 5902 N. Navarro St. was another benefit, Keating said, explaining Blackwood completely rebuilt the store in 2008.
"A lot of times we'll buy a store that's really broken and has to be fixed," he said. "That's very much not the case here. It's a really nice store, a well-run store and it's got to be the most beautiful facility in Victoria."