Lithia & Driveway has acquired four Kia and Hyundai dealerships in Memphis, Tenn., from Gossett Motor Cars, more than doubling the retailer’s footprint in the city.
That’s according to a news release from Kerrigan Advisors, which represented the seller.
The transaction included Gossett Kia, Gossett Hyundai, Gossett Kia South and Gossett Hyundai South.
“Serving Memphis has been a privilege for our family, and I am proud of the Gossett team, whose hard work and dedication made these dealerships what they are today,” said Al Gossett, the group’s president, CEO and founder, in a news release.
“This was a strategic decision for our group. It allows our team to focus our efforts on our remaining eight dealerships, and Lithia’s recent expansion in Memphis made them the right partner for our Kia and Hyundai stores,” Gossett said. “We are confident our employees and customers are in great hands with Lithia, and we are grateful to the Kerrigan Advisors team for guiding us through this sale process.
“Their professionalism, discretion and commitment to our best interests made a complex decision feel seamless, and I would recommend them to any dealer considering a sale.”
Chris Gempton, who is senior vice president at Kerrigan Advisors, added: “It was an honor to represent Memphis’ largest privately owned dealership group in this sale. It is rare to find multiple points for both brands in one market, especially in the South. We thank the Gossett family for the trust they placed in our firm and congratulate Lithia on this acquisition.”
Elsewhere in the South, Anderson Automotive Group has expanded its footprint in Florida and added two luxury brands to its portfolio.
The North Carolina-based dealer group announced it has acquired Acura of Fort Myers and Lexus of Fort Myers.
“Customers at both dealerships can expect a continued focus on personalized service and a premium ownership experience, supported by the resources, experience and commitment of Anderson Automotive Group,” the group said in a news release.
“The acquisitions represent an investment in the Fort Myers community and Southwest Florida, while bringing Anderson Automotive Group’s family-owned approach to two established luxury dealerships. The company will continue investing in its dealerships, associates and the communities they serve.”
Lastly, Tim Lamb Group Sales & Acquisitions said in a LinkedIn post that Alpha Automotive Group has acquired Chevrolet GMC of Millersburg. The Tim Lamb Group represented the seller, Seth Severin.
The dealership, located in Millersburg, Ohio, will operate as Alpha Chevrolet GMC.
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 450 franchises generating more than $11 billion in client proceeds, including three of the largest transactions in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group, Leith Automotive to Holman, and Hennessy Automotive Companies to Group 1 Automotive. 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 with 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®, 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 read the 2025 Kerrigan Dealer Survey, click here. To read the 2026 Kerrigan OEM Survey, click here. Kerrigan Advisors is also the co-author of NADA’s Guide to Buying and Selling a Dealership. Additionally, Kerrigan Advisors publishes a podcast, Beyond Blue Sky – A Kerrigan Conversation, where Kerrigan Advisors’ clients and industry leaders share the mindset, strategy and personal stories behind a once-in-a-generation transaction.
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