SOUTH BEND –– It’s a deal that has been rumored for weeks.

Thursday it finally became reality.

The Gurley-Leep Automotive Family closed on its purchase of Don Medow Pontiac Jeep Inc., located at 1903 Lincoln Way E. in South Bend.

"It’s been a long time," said Mike Leep Sr., president of Gurley-Leep, alluding to other discussions over the years between the two auto dealers.

"Everybody was honorable and we are thankful it’s all done and we will continue to sell cars in Michiana," Leep said.

The deal between the two local companies required approvals from General Motors Corp. and Chrysler LLC.

Terms of the transaction were not disclosed.

The sale means for now there will be no dealership in the area with the name Don Medow for the first time in 47 years.

"It’s a bittersweet time for us but we have enjoyed being in business for the South Bend area and the community," Randy Medow said of the dealership his father started in 1961. "The thing is the opportunity came up unexpectedly on both to sell the franchise and the real estate because we could not do one without the other."

Walgreens last month announced plans to build on the Medow site.

At that time, Randy Medow would only say a transaction with the dealership was anticipated.

Thursday he spoke more freely.

"Mike Leep is a terrific dealer-operator," he said. "And I think the community is going to be well taken care of for all their Pontiac and Jeep needs moving forward."

Medow, who began running the business in 1985, said at this point he is leaving his options open on future business opportunities.

Leep said all employees at the Don Medow dealership were given the chance to join Gurley-Leep but some declined.