M&A
Kerrigan Advisors’ latest Blue Sky Report finds single point dealerships represented 79% of buy/sells in the first quarter, up from 68% in 2023, but total transactions fell by 14%. +
Hendrick Automotive Group will return to Columbia, S.C., with the purchase of Love Chevrolet and Love GMC from Love Automotive, which exits the market after 60 years. +
Jerry Seiner Auto Group has acquired Ocean Honda of San Juan Capistrano from Victory Automotive Group. The renamed Jerry Seiner Honda is the Utah group’s first California store. +
AutoNation has acquired Groove Ford and Groove Mazda of suburban Denver from Summit Automotive Partners, completing the selloff of Summit’s Colorado Groove stores that started last year. +
Auto Dealership Partners has won an $18 million judgment against Ford Motor Co. after accusing the factory of engaging in “deceit and fraud” by blocking the purchase of a Benton, Ark., franchise. +
Shortly following a multimillion-dollar penalty leveled by the FTC, AutoCanada Inc. is actively seeking a buyer for its 10 Illinois dealerships and hopes to close the deal by the end of 2025. +
U.S. auto dealers sold 697 franchises in an all-time record of 438 transactions last year, according to Kerrigan Advisors’ year-end Blue Sky Report, a 10% increase from 2023. +
Carvana has acquired Jerry Seiner Chrysler-Dodge-Jeep-Ram of Casa Grande, Ariz., marking the online retailer and dealer disruptor’s first foray into the new vehicle business. +
Herb Chambers has sold his network of Massachusetts and Rhode Island dealerships and collision centers to Asbury Automotive Group in a blockbuster, $1.34 billion deal that puts Asbury in the New England market for the first time. +
Veteran M&A advisor Andy Gill tells CBT News readers that, depending on their brand and location, some dealers who have not considered selling may draw offers too generous to refuse. +
Waning dealership profitability could have a cooling effect on a dealer M&A market that was red-hot in 2024. Alysha Webb talks with experts and offers her latest forecast for Auto Remarketing. +
Honda, Nissan and Mitsubishi have entered discussions that could lead to a three-way merger that would form the world’s third-largest automaker. A new U.S. president could complicate the deal. +
Cooper Chevrolet Buick acquired GMC and Hyundai rooftops from neighboring Superior Automotive Group, creating a five-franchise collection now known as Cooper Auto Family. +
Sonic Automotive and Kerrigan Advisors announced the acquisition of Audi New Orleans from Bohn Brothers Automotive Group. The Metairie, La., store has served the Crescent City area since 2009. +
Kerrigan Advisors tracked 330 dealership transactions involving 544 franchises in the first nine months of 2024, putting M&A on track for a fifth consecutive year of growth. +
Don Franklin Automotive Group broadened its dealership portfolio with the acquisition of Knox Ford from owner Gary Haupt, who will focus his attention on his larger Ford dealership in Louisville. +
Sam Leman Automotive Group purchased Champaign (Ill.) Chrysler Jeep Dodge Ram, Yahoo Finance reported. +
Fred Beans Automotive expanded with the purchase of three rooftops from Freysinger Automotive and a new “state-of-the-art” collision center. +
Braden Automotive Group expanded its luxury lineup with the acquisition of a Central Ohio Cadillac GMC dealership. +
AutoNation divested eight dealerships as part of a broader portfolio strategy shortly after a third quarter that the nation’s No. 1 auto retailer said led to a 24% drop in net income. +
Sheldon Sandler of Bel Air Partners was recently featured on Inside Automotive, offering tips to CBT News viewers preparing to sell a dealership. +
Kerrigan Advisors facilitated the sale of the family-owned Cowboy Toyota to the family-owned CAR Group. +
Beyer Automotive Group transitions ownership of eight dealerships in a significant market shift. +
Jump IQ, an AI-powered dealership valuation tool, earned top honors as the Dealership Solution of the Year in the AutoTech Breakthrough Awards. +
Ineos Automotive grew its U.S. presence with four new partnerships with large, privately owned dealership groups. +
After experiencing record highs for more than two years, a cooling market will likely accelerate consolidation, according to a special Automotive News report. +
The latest Haig Report reveals a decline in buy-sell activity as blue sky values remain above pre-pandemic levels. +
Lithia & Driveway announced the acquisition of Acura, Honda and Subaru franchises from Duval Motor Company. +
Victory Automotive Group, advised by Haig Partners, acquired Weiss Toyota in its latest strategic expansion. +
Ed Morse Automotive Group expanded its portfolio and entered a new state with the acquisition of eight of Lawley’s Arizona dealerships. +
The buy-sell market for auto dealerships set records in the first half of 2024 with transaction activity on pace to double pre-pandemic levels for the year. +
Jim Keras Automotive Group has been reunited with its former Buick franchise after purchasing Sunrise Buick GMC Covington Pike from Sunrise Auto. +
Stivers Automotive Group, with the assistance of the Dave Cantin Group, expanded its presence in Georgia with the acquisition of a Ford dealership from AutoNation. +
A lawsuit claims the transfer of dual Long Island, N.Y., Alfa Romeo and Maserati dealerships was unfairly blocked by their factories. +
Shelor purchased two dealerships from Gary Duncan, who has now sold five of his 11 dealerships to auto groups since 2022. +
