Longtime Bountiful auto dealer Dan R. Eastman is selling his two businesses, but both he and soon-to-be owner Barry Engle said the dealerships' commitment to service will remain.
Engle has a management agreement to run the Dan Eastman Jeep Chrysler Plymouth and Dan Eastman Suzuki-Used Car Center dealerships in Bountiful,Eastman said Tuesday. The agreement took effect Nov. 19."For all intents and purposes, we have sold to Barry Engle and Larry Miller," Eastman said. "The management agreement is in place until (Daimler-) Chrysler Corp. approves Mr. Engle's application for a franchise agreement." Engle said he and Miller, who owns several auto dealerships in the Salt Lake Valley, are partners, and Miller will have a financial stake in the businesses. But Engle said he will be the "dealer principal," and the Engle name will be on the dealerships when approval comes from Daimler-Chrysler, probably by early February.
"I will be here just as Dan was every day, working this place with all of my heart, mind and soul, just as he did," Engle said Tuesday.
Engle said he used to work for Ford and had traveled all over the world with that company. But when he and his wife recently decided they wanted to settle down, he decided to talk to Miller.
Engle said he and Miller looked all over the West for a dealership to buy, and Eastman's had the best team of employees.
"I plan to keep every single employee," Engle said. "I've told everyone that I'm committed to keeping the spirit of Dan Eastman and what made this place so special and unique, and that's the people." Neither Eastman nor Engle would disclose financial details of the transaction.
Eastman, who will retain his interest in a Centerville Land Rover dealership, said changes in the auto industry -- particularly a drive toward consolidation -- contributed to his decision, as did a desire to simplify his life.
"When I had an opportunity to sell, it gave me pause to think and consider the future, and I just decided that if the offer was substantial enough, then I would consider it," Eastman said. "It was a difficult decision after being there 18 years and having about 100 employees and family members involved in the business. But I also felt that for me, personally, it was maybe time for a change."
He said the Bountiful dealerships will do about $50 million in sales this year.
"Since 1993, our company has been extremely profitable, and I think that is certainly one of the main reasons that Barry Engle was attracted to this particular business," Eastman said. "And even more than that, the people, the team that I've assembled over the years. Our dealership has continually been rated among the very highest in customer satisfaction year after year."
Eastman started his first dealership in Bountiful in 1980, selling American Motors, Jeep and Renault vehicles.
"I had given myself a five-year window to develop that, but as I got into the industry and learned more about it, I found out that five years didn't make a lot of sense and that I could do more with the business as I stayed longer," Eastman said. "It just ended up we stayed 18 years."
Even now, Eastman is not leaving the auto marketplace. He said he has committed to stick with the Bountiful dealerships for six months to help with the transition there. And in spring 1999, he plans to break ground on a new Chrysler, Jeep and Dodge dealership in Park City.
Eastman said he has been working on the Park City operation for about three years, and he hopes to have it up and running by August 1999.
"In terms of the facility, it's going to be about the same size as the one we had in Bountiful, but on a much smaller piece of property," said Eastman, who will continue to live in Bountiful.
"My success has been in more of a niche market, and that's what we have with Land Rover. I think we can continue that idea in Park City with a smaller market and a smaller operation."