Dobbs Family Automotive, a Memphis-based, family-owned automotive dealership group, has acquired Fields Mazda and Chrysler Dodge Jeep Ram of Asheville, North Carolina, from Fields Auto Group in a transaction advised by Kerrigan Advisors.
The acquisition marks Dobbs Family Automotive’s entry into the Asheville market and expands its portfolio to 14 dealerships across eight states: Alabama, Arkansas, Connecticut, Indiana, Kansas, North Carolina, Ohio and Texas.
Financial terms of the transaction were not disclosed.
Kerrigan Advisors represented Fields Auto Group in the sale, which marks the firm’s 455th automotive franchise transaction since its founding in 2014 and its 149th franchise sold in the southern United States.
The transaction also represents Kerrigan Advisors’ second announced dealership sale in the Carolinas market in 2026.
Fields Auto Group, one of the largest privately held automotive dealership groups in the United States, is divesting the two non-luxury franchises as part of its strategy to focus on luxury automotive retailing.
The company will maintain its presence in Asheville through its BMW, Mercedes-Benz and Land Rover dealerships.
Founded in 1971 with a Cadillac dealership in Evanston, Illinois, Fields Auto Group has grown into a major luxury automotive retailer with operations across Florida, Illinois, Wisconsin, Washington and North Carolina.
Of the company’s 34 dealerships before the transaction, 31 represented luxury automotive franchises.
The sale of the Mazda and Chrysler Dodge Jeep Ram dealerships aligns with Fields’ emphasis on luxury brands and portfolio optimization.
“It was an honor to once again work with the Fields family, this time on the sale of two of its Asheville dealerships,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
“As the top private luxury dealership group in the US, Fields has acquired and sold numerous dealerships over the years, including the sale of four Florida dealerships we were proud to represent.”
Those previous transactions included Volvo and Volkswagen dealerships in Daytona and Land Rover and Chrysler Dodge Jeep Ram dealerships in Orlando.
Kerrigan said the Asheville sale reflects the firm’s experience advising family-owned dealership groups seeking to divest non-core assets and concentrate on their primary business strategies.
The two dealerships occupy facilities totaling more than 64,000 square feet across more than 11 acres.
The properties include newly constructed and recently renovated facilities designed to meet manufacturer image standards, with a combined 32 service bays.
Fields Mazda of Asheville operates in a relatively protected market, with the nearest competing Mazda dealership located more than 60 miles away.
Fields Chrysler Dodge Jeep Ram of Asheville has been the market’s highest-selling dealership for those brands over the past five years, according to Kerrigan Advisors.
It is also the only Chrysler Dodge Jeep Ram dealership within Asheville’s city limits, where a substantial portion of the metropolitan area’s population resides.
These market characteristics were cited as factors supporting the dealerships’ appeal to prospective buyers.
John Fields, owner of Fields Auto Group, said the transaction allows the company to sharpen its focus on luxury automotive retailing in Asheville.
“Kerrigan Advisors has been our trusted partner on all things buy/sell for years, and every experience with their team has been exceptional,” Fields said.
“We’re grateful to the Kerrigan team for their guidance throughout and for identifying the ideal buyer for our Asheville non-luxury franchises.”
Fields said the company views Dobbs Family Automotive as a suitable buyer because of its family ownership structure and plans for growth in the Southeast.
“This sale also lets us sharpen our focus on our luxury dealerships in the Asheville market, namely BMW, Mercedes-Benz and Land Rover,” he said.
Dobbs Family Automotive is a third-generation, family-owned dealership group whose history dates to 1921, when James K. Dobbs opened his first Ford dealership.
The acquisition adds two automotive franchises in Western North Carolina and expands the company’s geographic footprint.
John Dobbs Jr., President of Dobbs Family Automotive, said the company sees opportunities in both the acquired brands and the Asheville market.
“We are excited to expand the Dobbs Family Automotive platform into Asheville and Western North Carolina,” Dobbs said.
“We believe in the growth of the Mazda and CDJR brands and their product lineups, and in the future of the Asheville market.”
Dobbs also emphasized the company’s history in automotive retailing and its intention to establish a long-term presence in the region.
“Our family has been part of auto retail for more than 100 years, and we look forward to bringing that legacy to Asheville,” he said.
The transaction comes amid continued dealership acquisition activity in the southeastern United States, where population growth and economic development have attracted automotive retailers seeking expansion opportunities.
Kerrigan Advisors identified North Carolina as an attractive market for dealership investment because of its business environment, population trends and franchise regulations.
North Carolina was named CNBC’s top state for business in 2025, according to the firm.
Asheville has experienced population and economic growth in recent years, supporting interest in automotive retail assets across the region.
Kerrigan Advisors reported that the Asheville metropolitan area’s population exceeded 422,000 in 2024 and that its population growth since 2020 outpaced the national average by 38%.
The firm also cited a move-in-to-move-out ratio of 1.89, ranking seventh nationally, as an indicator of continued migration into the area.
Asheville’s economy, valued at approximately $31 billion, has expanded by 43% over the same period, according to figures cited in the announcement.
Regional infrastructure investments include a new terminal at Asheville Regional Airport and the Interstate 26 Connector project, valued at more than $2 billion.
These developments were highlighted as factors supporting the region’s long-term economic outlook.
Chris Gempton, Senior Vice President of Sell Side Advisory at Kerrigan Advisors, said the Southeast continues to account for a substantial share of U.S. automotive dealership transactions.
“The Southeast continues to command a record share of the national buy/sell market, with buyers drawn to high-growth states like North Carolina and their favorable business and regulatory climates,” Gempton said.
He added that dealership location remains an important factor influencing franchise valuations.
Kerrigan Advisors’ Blue Sky Report, which tracks automotive dealership acquisition activity and valuations, identifies geography as a significant driver of dealership franchise value.
The firm said North Carolina dealerships can attract premium valuations because of population growth and the state’s business environment.
The Asheville transaction also adds to Kerrigan Advisors’ recent activity in the Carolinas.
The firm reported selling more than 50 automotive franchises across North Carolina and South Carolina since 2023.
Its recent transactions include the sale of Paramount Automotive’s Foreign Cars Italia dealerships in Charlotte earlier in 2026, MCE Automotive Group dealerships in Greenville in 2023 and Raleigh-based Leith Automotive to Holman in 2024.
Since its founding, Kerrigan Advisors has advised on the sale of more than 450 automotive franchises, generating over $11 billion in client proceeds.
The firm’s transaction history includes the sale of Jim Koons Automotive Companies to Asbury Automotive Group and Leith Automotive to Holman.
It has also advised on the planned sale of Hennessy Automotive Companies to Group 1 Automotive, a transaction expected to close in the fourth quarter of 2026.
Kerrigan Advisors specializes in sell-side advisory services for automotive dealership owners and publishes research on dealership valuations and transaction trends.
Legal counsel for Fields Auto Group included Shermin Pelinski of Fields Auto Group and Stephen Dietrich and Kyle Gaughan of Holland & Knight LLP.
Brian Nolen of Anderson Nolen, PLLC served as legal counsel to Dobbs Family Automotive.
The completed acquisition gives Dobbs Family Automotive an established presence in Asheville through two dealerships with modern facilities, existing customer relationships and service operations.
For Fields Auto Group, the sale represents a further step toward concentrating its portfolio on luxury automotive franchises.
The transaction also reflects continued consolidation and portfolio repositioning in the U.S. automotive dealership industry, with family-owned groups pursuing acquisitions and divestitures aligned with their geographic and brand strategies.
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 (planned and expected to close in Q4 2026). 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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