December 13, 2019 by Marlee McCormick

Park Place Dealerships Founder Sells All But Two Dealerships

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(Dallas, TX) — Park Place Dealerships founder Ken Schnitzer is selling most of his dealerships.

He announced Thursday he decided it was time to sell all but two of his dealerships so he could focus on family. Schnitzer is expected to get a billion dollars from the sale of 14 dealerships to Asbury Auto Group, in the deal which could close by March. He’ll retain ownership of his Grapevine Mercedes-Benz and Porsche dealerships.