Bob Bell Automotive Group has acquired Plaza Ford in Bel Air, Maryland, expanding its presence in one of the Mid-Atlantic’s stronger automotive retail markets as dealership consolidation continues across the industry.
Kerrigan Advisors represented the Walls family in the sale of the dealership, which has operated in Harford County for more than 90 years. Financial terms of the transaction were not disclosed.
The acquisition gives Bob Bell Automotive Group its seventh dealership rooftop and strengthens the company’s Ford presence in Maryland. The dealership group, led by J.P. Bishop, already operates six dealerships across Baltimore, Glen Burnie and Bel Air, including Ford, Chevrolet, Hyundai, Kia and Nissan franchises.
The transaction reflects continued momentum in dealership buy-sell activity as larger regional groups pursue strategic acquisitions in high-income suburban markets with limited franchise competition. Dealers have increasingly targeted established operations with strong real estate positions and dominant local market share rather than pursuing broader geographic expansion alone.
Founded in 1933, Plaza Ford has long been a fixture of Maryland’s auto retail market. Ralph Walls joined the dealership as a bookkeeper in 1947 before becoming general manager in 1959 and later an owner in 1962. Over decades, the Walls family expanded the business into a major operation along Belair Road, investing in a 24.5-acre property within Bel Air’s primary automotive retail corridor.
Tom Walls, co-owner of Plaza Ford, said joining a larger multi-franchise dealership group creates additional opportunities for longtime employees while continuing the dealership’s legacy in the market.
Kerrigan Advisors said the transaction was especially attractive because of both Ford’s market position and Harford County’s demographics. The county has a population exceeding 265,000 residents with median household income roughly 34% above the national average, according to the firm. Population growth is projected to continue through 2045, while the market currently supports only two Ford franchises.
The deal also comes during a period of renewed strength for Ford’s retail performance. Kerrigan Advisors noted that Ford has outperformed several domestic competitors in recent sales growth while benefiting from its strong U.S.-based manufacturing footprint. The company’s F-Series pickup line remains the best-selling truck franchise in the country, helping maintain demand in suburban and commercial markets.
Industry consolidation has accelerated in recent years as dealership groups seek economies of scale, stronger manufacturer relationships and increased operational efficiency. Acquisitions have become particularly competitive in markets with favorable demographics, limited franchise saturation and established retail corridors.
Erin Kerrigan, founder and managing director of Kerrigan Advisors, said dealership groups are increasingly pursuing highly targeted acquisitions designed to strengthen local dominance and optimize franchise portfolios rather than simply adding scale for its own sake. She described Plaza Ford as a strategic fit for Bob Bell because of the group’s existing Maryland footprint and the dealership’s position within a high-volume non-luxury corridor.
The sale marks Kerrigan Advisors’ 327th dealership transaction since the firm’s founding and its 51st franchise transaction in the Mid-Atlantic region. The firm said it has advised on more than $3 billion in dealership revenue transactions across 13 states over the past year.
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 more than 300 dealerships generating more than $10 billion in client proceeds, including two of the largest transactions in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group and Leith Automotive to Holman. 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 is the only firm in auto retail exclusively dedicated to sell-side advisory, providing its clients the assurance of a conflict-free approach.
Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, the industry authority on dealership buy/sell market trends and valuations and 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 The Kerrigan Index™ comprised 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 2024 Kerrigan Dealer Survey, click here. To read the 2025 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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