Print
Real Estate - Commercial

Baker Motor Co. Buys Schaeffer BMW For $8.2M

By Cece Nunn, posted Aug 18, 2015
Baker Motor Co. bought Schaeffer BMW in a deal that involved about $8.2 million, changing the name to BMW of Wilmington. (Photo courtesy of Baker Motor Co.)
Baker Motor Co. recently bought a family-owned BMW dealership in a deal that involved about $8.2 million, according to New Hanover County documents and a company announcement Tuesday.

The company bought the assets of Schaeffer BMW, a Wilmington firm for more than 30 years and located at 4920 New Centre Drive, and started operating as the new owner Tuesday, according to a news release from Charleston, South Carolina-based Baker Motor Co. The dealership’s new name is BMW of Wilmington.  

"I think we’re blessed to have the opportunity to be in the Wilmington market," said Tommy B. Baker, owner and president of Baker Motor Co., on Tuesday. "It reminds me so much of Charleston; both are coastal communities, both are port communities and both have universities...I think if you look at the future of the United States -- everybody’s trying to get to the coast."

BMW of Wilmington represents two firsts for Baker Motor Co. by adding a brand that the firm has not offered before and buying a location in North Carolina. "We are thrilled to add the BMW brand to our group.  We are prepared to serve BMW clients in the Wilmington market and provide them with the premier Baker Motor Company client experience,” Baker said.

He said BMW dealerships rarely sell.  

"They [BMW] only have about four per year that change hands, and there are 400 dealers in America," Baker said.

With the new BMW location buy, the Baker group now consists of 13 automotive manufacturers. In addition to BMW, they include Mercedes-Benz, Rolls Royce Motor Cars, Sprinter, smart, Infiniti, Maserati, Porsche, Land Rover, Jaguar, Buick, GMC and Cadillac.

All Schaeffer employees were given the option to join the BMW of Wilmington team moving forward, the release said. Matthew Scoggins, Baker’s operations officer, said in the announcement, “Our No. 1 priority is communicating how important Schaeffer’s existing employees are to us.”

Schaeffer was founded in 1984 by Milton T. Schaeffer Jr. when he began operations as a Buick dealer in downtown Wilmington. Schaeffer Buick moved to its New Centre Drive location, which consists of about 10 acres, in 1986, acquiring BMW in 1990. Schaeffer won the BMW Center of Excellence award in 2006 and 2012. 

Baker Motor Co. was founded in 1988 by Baker and is the largest privately held automobile dealer group headquartered in South Carolina, according to the news release. In addition to BMW of Wilmington, the company operates three manufacturer-authorized, new car locations: Baker Motor Company of Charleston Inc., Baker Buick GMC Cadillac and Mercedes-Benz of Mount Pleasant, South Carolina. 
 

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Burrus rob headshot 300x300

Spreading Wings for Flight: 2nd Annual Trade Show Highlights the Ingenuity of UNCW Business Students

Robert Burrus - Cameron School of Business - UNC-Wilmington
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech
Screenshot2022 01 06at338 162234623

Food is the Foundation for Prosperous Communities

Girard Newkirk - Genesis Block

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

Hacking Cyberdefense Shortage

A shortage of cybersecurity professionals influenced professor Ulku Clark and her team to slowly evolve UNCW’s offerings to now include eigh...


Park Progress

The planning for Pender Commerce Park began in the early 2000s when the county wanted to create an economic driver on its largely rural west...


Q&A: Andrews Reflects On Leadership

Pender County Manager David Andrews is slated to retire this summer after 33 years in local government....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments