Duval Motor Company Completes Strategic Dealership Sale
Duval Motor Company Concludes Successful Dealership Sale
In a significant move, Duval Motor Company has transitioned ownership of its Honda, Acura, and Subaru dealerships to Lithia & Driveway. This strategic decision will allow the company to concentrate its efforts on expanding its flagship Ford dealership.
A Legacy of Excellence
Founded in 1916, Duval Motor Company is a family-run business with deep roots in the Jacksonville automotive industry. Collectively managed by CEO Hampton Graham and President Alex Graham, the company gained a reputation over the decades for its unwavering commitment to quality service and customer satisfaction. Originally beginning its journey with Duval Ford, it is now recognized as one of the oldest family-owned Ford dealerships.
Strategic Shift Towards Ford
The recent sale aligns with the company’s goal to funnel its resources into enhancing the Ford dealership's performance. The Graham family views Duval Ford as the core of their business—an essential piece of their legacy that they intend to nurture and grow further.
Insight from Industry Leaders
Kevin Nill, Managing Director at Haig Partners, expressed his pride in assisting the Graham family during this pivotal time. "Working with them over the years has been a privilege," Nill stated, emphasizing the trust and long-standing connections that Duval Motor Company has cultivated within the local community. This sale not only marks a transition for Duval but also highlights Lithia's expansion into Florida, showcasing the robust automotive market in the region.
Lithia & Driveway's Growth Plans
In discussions regarding the transaction, Bryan DeBoer, President and CEO of Lithia & Driveway, noted the importance of these newly acquired locations. He commented on their potential to generate over $200 million in annualized revenue while reinforcing Lithia’s commitment to delivering outstanding service. Bringing Duval's reputation into their portfolio strengthens their mission of customer-centric retail experiences.
The Future of Duval Motor Company
Reflecting on the sale, Hampton Graham shared, "Although we will miss our Duval Honda, Duval Acura, and Subaru of Gainesville family, our focus remains on the future with Ford Motor Company." The Graham family intends to carry forward the legacy that began with Walter McRae Sr., ensuring strong community ties and exceptional service continue at Duval Ford.
Appreciation for Professional Guidance
Graham also praised Haig Partners for their professionalism throughout the sales process. "Kevin and Matt have shown incredible attention to detail and responsiveness," he stated, underscoring the effective support they received during this significant transition.
About Haig Partners
Haig Partners stands out in the buy-sell advisory sector, specializing in the sale of high-value auto and truck dealerships. With a proven record of facilitating over 595 dealership transactions valued at more than $11.6 billion, they remain a trusted partner for dealership owners. Their extensive knowledge and relationships enable them to meet the unique needs of each client.
Industry Expertise and Influence
The firm's influence extends beyond transactions. Haig Partners regularly contributes valuable insights to industry reports like The Haig Report and NADA’s Guide, establishing themselves as thought leaders within the automotive space. This expertise equips them with the tools necessary to guide clients through complex processes in buying or selling dealerships.
Frequently Asked Questions
What dealerships were sold by Duval Motor Company?
Duval Motor Company sold its Honda, Acura, and Subaru dealerships as part of a strategic decision to focus on its Ford dealership.
Who facilitated the sale of the dealerships?
Haig Partners acted as the exclusive sell-side advisor for Duval Motor Company during this transaction.
What are the long-term goals of Duval Motor Company?
The company aims to enhance and expand its Ford dealership, continuing its legacy of quality service and customer relations.
What impact will the sale have on Lithia & Driveway?
This acquisition marks Lithia & Driveway's entry into key Florida markets and is expected to boost their annual revenue significantly.
How does Haig Partners support their clients?
Haig Partners offers expert advice and tailored sales processes focused on maximizing dealership values for their clients.
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