Prestige Automotive (No. 1 on the BE AUTO DEALER 100 list with $1.07 billion in sales) will make its first move into the import market by opening a Mercedes-Benz dealership. Owner and CEO Gregory Jackson is excited about what the addition means for his company. “Entering the import market allows me to diversify my portfolio of dealerships and protect against market downturns,” says Jackson. “We are very excited to be working with Mercedes-Benz.” Prestige was named the Auto Dealer of the Year by BLACK ENTERPRISE in 2005.
This year, the 12th Essence Music Festival, billed as “the party with a purpose,” temporarily moves to Houston (July 1—3 at Reliant Park). Hurricane Katrina damaged the New Orleans Superdome, the festival’s annual home. The festival drew record attendance in 2005 with 232,000 partygoers. This year’s event includes efforts to help those affected by the hurricane. — Wendy Isom
The recent merger between black-owned technology company RetroBox L.L.C., based in Columbus, Ohio, and Intechra Holding Corp., based in Carrollton, Texas, will create the largest full-service information technology asset disposition company in the country. “Intechra and RetroBox have distinct sales channels and strong customer bases with little duplication,” said RetroBox founder Stampp Corbin in a statement. “We have complementary geographic markets that will improve customer service.” RetroBox, founded in 1997, has revenues of about $18 million, and Intechra has revenues of about $22 million. — Glenn Townes