Sale of dealership in Utah’s second fastest-growing metro area underscores demand for high-quality franchises in the Western US and is Kerrigan Advisors’ 145th transaction in the region.
SALT LAKE CITY--(BUSINESS WIRE)--Kerrigan Advisors, the leading sell-side advisor and thought partner to auto dealers nationwide, represented Atlanta-based Asbury Automotive Group, Inc. (“Asbury”) (NYSE: ABG) in the sale of its Larry H. Miller CDJR Riverdale dealership in Ogden, Utah, to Young Automotive Group. Young Automotive Group operates dealerships in Utah, Idaho, and Montana, and ranks as the 119th largest dealership group in the US per Automotive News. Asbury, one of the largest automotive retailers in the US, has been strategically optimizing their brand portfolio mix as part of its corporate strategy.
The sale of CDJR Riverdale brings the total proceeds Kerrigan Advisors has raised on behalf of its dealership clients to nearly $10 billion since 2014, more than any other firm in auto retail.
“We are pleased to have partnered once again with Kerrigan Advisors on this divestiture and appreciate the firm’s expertise in shepherding the transaction to a successful outcome,” said David Hult, President and CEO of Asbury. “Erin Kerrigan and her team’s professionalism and insights into the dealership buy/sell market helped to ensure a positive outcome for both Asbury and Young Automotive.”
“We are honored to represent Asbury on another successful transaction,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “Asbury continues to demonstrate disciplined portfolio management, and we appreciate being a strategic advisor in their process of optimizing their highly valuable network.”
“Kerrigan Advisors’ exceptional attention to detail and active involvement throughout the sale process meant a smooth and efficient closing for all parties,” said Amanda Parrilli, Vice President of Corporate Development and Real Estate at Asbury. “The Kerrigan team worked diligently to achieve a seamless divestiture of the LHM CDJR Riverdale dealership.”
Utah is the second fastest-growing state in the West and in the US, with projected population growth of nearly one million residents over the next 15 years. The state’s economy has more than doubled over the past two decades, earning national recognition for sustained growth and economic vitality, ranking #1 state overall and #1 economy per US News & World Report. Utah is also a high-volume auto retail market, with vehicle sales up 29% since 2020 and average dealership revenue exceeding the NADA average by 17%.
Situated just north of Salt Lake City, Riverdale is a growth area of Ogden, home to 11 new vehicle dealerships and near two of the region’s largest employers - Hill Air Force Base and Northrop Grumman, which collectively employ over 30,000 people. Ogden is one of Utah’s strongest domestic car markets, with domestic brand share roughly 10% higher than the US average. With GDP growth of more than 40% over the last five years, the Ogden metro area’s thriving defense and manufacturing base, coupled with steady population and job growth, drives strong vehicle demand and dealership profitability.
“The Utah market continues to attract significant buyer interest given its strong economic fundamentals, consistent population growth and high vehicle ownership rates,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors. “Ogden, in particular, has the qualities that today’s dealership buyers are seeking: a thriving local economy supported by major employers and an above-average share of domestic brand sales. It is one of the most dynamic markets in the West for dealership investment, and we are proud to have facilitated this sale, our 45th in the last 12 months.”
Kevin H. Sutton, shareholder at Hill Ward Henderson, served as outside legal counsel to Asbury. Jill K. Bell and S. Katherine Frazier of Hill Ward Henderson provided legal counsel to Asbury on real estate matters.
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 $9.5 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.
Contact us to learn more about Kerrigan Advisors’ sell-side services.
All of our conversations are 100% confidential.
