Picador already has three Vauxhall dealerships in Hampshire.
The re-opening of the Southampton Chevrolet dealership, which was among the UK’s top five performers for the franchise, has saved 11 of the 20 employees who worked there under Denkale.
Picador chief executive Graham Jacobs convinced Chevrolet that Picador was the best option for to continue the business.
However he was not interested in Denkale's two other Chevrolet dealerships in Slough and Reading.
Picador was started by Graham’s father, mechanic Lionel Jacobs, in 1963.
Today the firm turns over £40m from businesses at five Hampshire sites.