Ken Schnitzer will retain ownership of Park Place Dealerships, including two in Grapevine

Ken Schnitzer of Park Place Dealerships will maintain ownership of 14 of his dealerships, including two in Grapevine. (Courtesy Park Place Dealerships)
Ken Schnitzer of Park Place Dealerships will maintain ownership of 14 of his dealerships, including two in Grapevine. (Courtesy Park Place Dealerships)

Ken Schnitzer of Park Place Dealerships will maintain ownership of 14 of his dealerships, including two in Grapevine. (Courtesy Park Place Dealerships)



Asbury Automotive Group has canceled its plans to purchase Park Place Dealerships, Park Place founder and Chairman Ken Schnitzer announced March 25. The sale was to be completed at the end of the month.

“We will continue to do what we have done best for the past 33 years,” Schnitzer said in a news release. “Now more than ever, we remain committed to creating exceptional experiences for our clients, relying on the talent within our organization, and most importantly, keeping everyone safe.”

Asbury’s deal to purchase the dealerships was made last December. The Park Place brand and the following dealerships were to be under the Asbury Automotive Group's ownership: Lexus Plano and Lexus Grapevine; Jaguar/Land Rover DFW and an Austin location currently under construction; Mercedes-Benz stores in Dallas, Fort Worth and Arlington; Porsche Dallas; Volvo; Bentley Dallas; Rolls-Royce Motor Cars Dallas; McLaren Dallas and Maserati Dallas. Park Place BodyWerks locations in Dallas and Fort Worth were also included in the sale.

Schnitzer founded Park Place Dealerships in 1987.


Park Place Jaguar/Land Rover: 1300 E. Hwy. 114, Grapevine. 972-295-9783. www.parkplace.com

Lexus Grapevine: 901 E. Hwy. 114, Grapevine. 817-310-9671. www.parkplace.com
By Miranda Jaimes

Editor, Frisco & McKinney

Miranda joined Community Impact Newspaper as an editor in August 2017 with the Grapevine/Colleyville/Southlake edition. In 2019 she transitioned to editor for the McKinney edition. She began covering Frisco as well in 2020. Miranda covers local government, transportation, business and nonprofits in these communities. Prior to CI, Miranda served as managing editor for The Prosper Press, The Anna-Melissa Tribune and The Van Alstyne Leader, and before that reported and did design for The Herald Democrat, a daily newspaper in Grayson County. She graduated with a degree in journalism from Oklahoma Christian University in 2014.