Driving the news: Lithia Motors, Inc. has acquired four Kia and Hyundai dealerships in Memphis, Tenn., from Gossett Motor Cars, in a deal that closed Oct. 19.
For context: Gossett Kia, Gossett Hyundai, Gossett Kia South, and Gossett Hyundai South all sit along Covington Pike and Mt. Moriah Road, two of the Memphis area's top auto corridors, according to Kerrigan Advisors, which represented Gossett in the sale.
What they’re saying: Lithia CEO Bryan DeBoer said the group is still adding stores in the Southeast during the group's third-quarter earnings call on Oct. 21.
"A few days ago, we acquired four Gossett Hyundai and Kia stores in Memphis, Tenn., adding $250 million in expected annualized revenues and strengthening our presence in the Southeast region," DeBoer said.
Worth noting: Al Gossett founded Gossett Motor Cars in 1985.
Strategic note: Chris Gempton, senior vice president of Kerrigan Advisors, said in a release that it “is rare to find multiple points for both brands in one market, especially in the South.”
Kerrigan said it has now sold 32 franchises in the South in the last four months.
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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