A Salt Lake City-area dealership has been sold by one of the biggest U.S. automotive groups.
Atlanta-based Asbury Automotive Group sold the Larry H. Miller Chrysler Dodge Jeep Ram Riverdale store to Young Automotive Group in a deal brokered by sell-side firm Kerrigan Advisors.
The Young group operates some two dozen car dealerships and about a dozen power-sports stores in Idaho, Montana and Utah, along with truck dealerships and body shops. It renamed the Riverdale store to reflect its brand.
The sale is part of Asbury’s strategic brand mix optimization, Kerrigan Advisors said. Asbury bought the Riverdale store as part of its 2021 acquisition of Larry H. Miller Dealerships, which constituted more than 60 stores in the West.
The Riverdale area is dominated by Hill Air Force Base and a location of aerospace-defense contractor Northrop Grumman, making it a major auto retail market, especially for domestic brands, according to Kerrigan. It said overall Utah sales are up 29% since 2020 and average dealership revenue 17% above the National Automobile Dealers Association average.
“The Utah market continues to attract significant buyer interest given its strong economic fundamentals, consistent population growth and high vehicle ownership rates,” said Managing Director Ryan Kerrigan in announcing the Asbury store sale.
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.
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