Pendragon, a large publicly traded auto retailer in the UK, has sold its final U.S. dealership following a multiyear divestiture effort.
Pendragon, which announced in 2017 its plans to exit the U.S. after buying its first store here in 2000, got about $14.9 million selling Hornburg Jaguar-Land Rover Santa Monica in California.
Redwood Automotive of Los Angeles bought the store on March 29. It has been renamed Jaguar-Land Rover Santa Monica.
That deal follows Pendragon's January sale of Hornburg Jaguar-Land Rover in West Hollywood, California, to Triunity Automotive Group for about $22.3 million.
Pendragon's six stores were in Southern California and included Aston Martin, Chevrolet and Jaguar-Land Rover franchises.
Pendragon said last week it collected a total of about $146.1 million from the sale of all its U.S. dealerships.
Former AutoNation COO Bill Berman joined Pendragon's board in April 2019 and was named interim executive chairman in October of that year. He is now Pendragon's CEO.