Asbury Automotive Sells Nalley Chevrolet In Atlanta To ALM Automotive Group

Written by:
Autobody News Staff
August 20, 2024

Asbury Automotive Group, one of the largest automotive retailers in the U.S., sold its Nalley Chevrolet dealership in Union City, a suburb of Atlanta, GA, to ALM Automotive Group.

The Nalley Chevrolet dealership, located in a bustling auto mall with 18 brands, is in an area experiencing significant population growth. This strategic location and the strength of the Chevrolet brand, which saw a 13% increase in sales in 2023, made the dealership a highly sought-after asset.

ALM Automotive Group, established in 2006 with a focus on providing high quality pre-owned vehicles in Atlanta, has expanded to 14 locations across Georgia and South Carolina, including seven franchise locations. The acquisition of Nalley Chevrolet aligns with ALM's growth strategy, further strengthening its presence in the region.

The sale was announced by Kerrigan Advisors, which also facilitated it.

“We continue to see robust buyer demand in the South, especially in high growth markets, and with Chevrolet as the top domestic brand, there was high demand for this dealership,” said Erin Kerrigan, founder and managing director of Kerrigan Advisors. “Having represented more than 80 franchises sold in the region since 2020, Kerrigan Advisors was well positioned to lead this transaction on behalf of Asbury and are pleased the transaction had such a successful outcome.”

Atlanta's economy, which has grown by 32% over the past five years, remains a top growth market in the U.S., further contributing to the strong interest in automotive franchises in the area.

About Kerrigan Advisors

Kerrigan Advisors is the leading sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of over 275 dealerships representing $9 billion in client proceeds, including the third largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. The firm advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors does not take listings, rather they develop a customized sales approach for each client to achieve their personal and financial goals. In addition to the firm’s sell-side advisory services, Kerrigan Advisors also provides a suite of consulting and investor services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement and real estate due diligence.

Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, which includes Kerrigan Advisors’ signature blue sky charts, multiples, and analysis for each franchise in the luxury and non-luxury segments. To download a preview of the report, click here. The firm also releases monthly The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here. To read the 2023 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.

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