McLarty Automotive Group acquires Asbury’s Mississippi holdings
by March 16, 2020 10:56 am 5,220 views
McLarty Automotive Group has completed its acquisition of Atlanta-based Asbury Automotive Group’s Mississippi holdings with the purchase of Gray-Daniels Auto Family. Gray-Daniels is the largest dealership group in Mississippi with approximately $400 million in annual revenues.
Terms of the transaction were not disclosed. Asbury Automotive Group is a publicly-traded company, while McLarty Automotive Group is privately held.
“Like McLarty Automotive Group, Gray-Daniels Auto Family is deeply rooted in the communities it serves,” said Mark McLarty, company founder and chairman. “We are excited about the opportunity to build on its more than 30-year history and grow our presence in America’s Heartland.”
The Gray-Daniels Auto Family operates one collision center and five dealerships: Gray-Daniels Toyota, Gray-Daniels Nissan Brandon, Gray-Daniels Chevrolet, Gray-Daniels Nissan North, and Gray-Daniels Ford Lincoln.
With the addition of Gray-Daniels Auto Family, McLarty Automotive Group is expected to be one of the top 25 automotive dealers in the U.S. with nearly $1.7 billion in annual revenue.
“I’ve long admired and respected the McLarty family’s commitment to their team members and customers,” said David W. Hult, president and CEO of Asbury Automotive. “This transaction aligns well with Asbury’s store portfolio goals and McLarty Automotive Group’s continued expansion in the region.”
Founded in Arkansas in 2014, McLarty Automotive Group made its first acquisition that same year, purchasing Bale Honda in Little Rock and renaming it McLarty Honda.
In 2015, it acquired Frank Fletcher Honda, now Columbia Honda; the Joe Machens dealership group in Columbia and Jefferson City, Mo.; and four Arkansas dealerships from Asbury Automotive, which have since been renamed McLarty Mazda, McLarty Nissan of Little Rock, McLarty Nissan of North Little Rock and McLarty Volkswagen.
In 2016, McLarty Automotive Group purchased the remaining Asbury holdings in Arkansas that are now BMW of Little Rock, McLarty Volvo Cars of Little Rock, Mark McLarty Ford Lincoln, Mark McLarty Toyota, McLarty Collision North and McLarty Collision West. It opened a McLarty Nissan dealership in Benton, Arkansas in 2017.
McLarty Automotive Group currently owns and operates 23 dealerships across the Mid-South and Midwest, representing BMW, Chrysler, Dodge, FIAT, Ford, Honda, Hyundai, Jeep, Lincoln, Mazda, Mitsubishi, Nissan, Ram, Toyota, Volkswagen and Volvo.