What for almost a decade had been Billy Fuccillo and Kia’s best-selling dealership in the world, off Pine Island Road in Cape Coral, is being sold for the second time in two years.
The late Billy Fuccillo’s company sold his dealerships in Cape Coral and Port Charlotte for a combined $36 million in 2021. LMP Automotive Holdings, based in West Palm Beach, announced Monday it will be liquidating and dissolving assets of between $115 million and $126 million to its shareholders, CEO Sam Tawfik said in a news release. He could not be reached for comment.
These assets include the Kia dealerships at 404 NE Pine Island Road in Cape Coral and 202 Tamiami Trail in Port Charlotte. Those dealerships will be getting new owners once again, likely by October, Tawfik said. They will remain open in the interim.
Fuccillo, who died at age 65 in June 2021, opened the Cape Coral dealership in 2011, resurrecting it from an out-of-business Saturn location.
Fuccillo was well known for giveaways, from cars and cruises to once even having the rock band Styx play a concert at the dealership, and popularized his one-word catchphrase “Huuugja” with frequent TV and radio appearances. His enduring presence came to an abrupt end upon suffering a stroke in the fall of 2019.
LMP Cape Coral KOCC LLC paid $13.1 million for Fuccillo’s Cape Coral car lot in March 2021, property records show.
LMP will sell four other dealerships, all based in Beckley, West Virginia, as part of the liquidation process, Tawfik said.
The general managers at Kia of Cape Coral and Port Charlotte could not be reached for comment.
“The board and the management team all believe that, given the diversified nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the best opportunity to maximize stockholder value,” Tawfik said in LMP’s statement.