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Gary Pedigo has resigned as one of ADESA Corp.'s top executives and has cashed in millions of dollars of ADESA stock to acquire one of the city's largest auto dealerships.
Pedigo this month acquired an 85-percent interest in Dave McIntire Chevrolet Geo Hyundai, a 24-year-old dealership that operates on 14 acres at 5101 W. 38th St.
Dave McIntire, 66, who is stepping away from active management, retains the other 15 percent, but the dealership has been renamed Pedigo Chevrolet Geo Hyundai.
"I've known Dave McIntire for many years," Pedigo said. "Some years ago, I told him if he ever decided to sell, let me know. Our relationship developed over the years. and I was the first one he called."
Pedigo said the purchase was a rare opportunity because Chevrolet dealerships in metro areas often are passed on through generations and rarely come on the market.
The northwest-side dealership has 105 employees and ranks as the sixth-largest in the Indianapolis area, selling about 3,500 vehicles annually and posting gross sales of about $55 million.
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