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Collect Did Billy Fuccillo Sell His Dealerships?

Did Billy Fuccillo sell his dealerships?

Billy Fuccillo’s dealerships in Cape Coral and Port Charlotte were sold after he passed away in June 2021. LMP Automotive Holdings purchased the dealerships for a total of $36 million. This summer, LMP Automotive Holdings announced plans to distribute between $115 million and $126 million to its shareholders.

It’s important to understand the context surrounding the sale of Billy Fuccillo’s dealerships. Billy Fuccillo was a well-known and successful car dealer in the state of Florida. He was known for his flamboyant personality and his catchphrase, “It’s Fuccillo, it’s huge, it’s HUGE!”. His dealerships were popular and successful, and his passing was a significant loss to the auto industry.

After his death, the Fuccillo Automotive Group, which Billy Fuccillo had founded, made the decision to sell the dealerships in Cape Coral and Port Charlotte. LMP Automotive Holdings is a publicly traded company that owns and operates automotive dealerships. They saw an opportunity to expand their operations by acquiring these well-established dealerships in Florida. The sale price of $36 million reflects the value of the dealerships and their potential for future growth.

The announcement by LMP Automotive Holdings to distribute funds to shareholders suggests that they are satisfied with the performance of the acquired dealerships. It is a positive sign for both the company and for the future of Billy Fuccillo’s legacy in the auto industry.

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