Legendary investor Warren Buffett's purchase of the nation's largest privately held car dealership chain is a great opportunity to get into a strong business, "The Profit" host Marcus Lemonis told CNBC Thursday.
Buffett announced on CNBC Thursday that Berkshire Hathaway is buying Van Tuyl Group, which Lemonis called "one of the best operators out there."
"Warren ... knows that the automobile business has really turned into a digital play with great execution at the store level," Lemonis said in an interview with "Power Lunch."
Buffett said he expects to use the agreement as a vehicle to buy other dealerships. The new company will be renamed Berkshire Hathaway Automotive, but will still be run by Larry Van Tuyl, who will become the chairman.