Tim Lamb Group brokers sale of three automotive dealerships to Thomas and Ashley Peden | News, Sports, Jobs
Two auto dealerships in Marietta and one in Parkersburg are under new ownership.
Mark Beford, Director of the Tim Lamb Group, worked with Richard Nourse on the sale of three of his dealerships located on the border of Ohio and West Virginia.
The transaction included the sale of Pioneer Chevrolet and Family Ford Lincoln, both in Marietta, and Pioneer Honda of Parkersburg. The deal, which closed on Oct. 17, provides the new owners, Thomas and Ashley Peden, with the opportunity to continue their vision of growing their dealership platform.
Pioneer Honda of Parkersburg, located at 1920 Garfield Ave. in Parkersburg, will be named Parkersburg Honda, Pioneer Chevrolet, located at 1315 Pike St. in Marietta, will keep its name, and Family Ford Lincoln, located at 909 Pike St. in Marietta, will change the name to Pioneer Ford Lincoln.
With the sale of three dealerships, Nourse, who has been in this market for over 35 years, will focus his efforts on his remaining five dealerships which include the Ford, Honda, Lincoln, Nissan, and Toyota brands that are all situated in Chillicothe.
“I hadn’t contemplated selling, but when I was presented with the opportunity to sell to the Pedens I really had to consider it,” said Nourse.
“I’ve heard great things about the Pedens and the accomplishments they have achieved in the Zanesville market, and I knew they would be great stewards to continue what we have built in the community,” he said.
Thomas Peden II, a native of West Virginia and a third-generation car dealer, purchased his first two dealerships in Zanesville in June of 2020 and is thrilled with the addition of these three new stores.
He brought his sister Ashley in to run his Zanesville Honda Toyota dealerships in 2020 and she is now a partner in his latest endeavor.
The dealerships, which are all 15 miles from each other and approximately 45 minutes from where the Pedens grew up, fully intend to keep the entire team together and will continue to be involved in the community organizations that were important to Nourse.
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