NEW ORLEANS--(BUSINESS WIRE)--Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Toyota of Slidell dealership to Tennessee-based Carlock Automotive. This represents the sale of the final of four dealerships in the Bohn Brothers Automotive Group, including Audi of New Orleans, Audi Lafayette, Hyundai Genesis of Metairie and Toyota of Slidell.
“We are delighted to announce the successful completion of the final of four transactions we have advised on for the dealership group owned by the Bohn Brothers,” said Gabe Robleto, Senior Vice President of Sell-Side Advisory at Kerrigan Advisors. “It has been a privilege to work with the Bohn family throughout this process, and we deeply appreciate the trust they placed in us to help guide such an important transition. We are confident that the dealership will thrive under the leadership of Carlock Automotive. This acquisition marks an exciting new chapter for Carlock as they expand into Louisiana with their first dealership in the state. The legacy of the Bohn Brothers is in excellent hands, and we look forward to seeing the continued success of Toyota of Slidell under its new ownership.”
Founded by George W. Bohn in 1924, the Bohn Brothers Automotive Group opened its first store as a Ford dealership on South Broad Street in New Orleans. The third generation of the family expanded adding Toyota, Audi, Buick, Pontiac Hyundai Genesis and GMC truck dealerships. They sold those dealerships in 2000 except Toyota of Slidell, and in 2009 Donny, Scott and Van Bohn added Audi New Orleans, Audi Lafayette and Hyundai Genesis of Metairie.
“It is a bittersweet moment for our family as we step away from the business after more than 100 years of serving the New Orleans community,” said Donny Bohn, Co-Owner of Bohn Brothers Automotive Group. “Our partnership with Gulf States Toyota since 1987 has been a cornerstone of our journey, and we are profoundly grateful for the opportunity to be part of such a storied legacy. We also want to extend our heartfelt thanks to Gabe Robleto and the entire team at Kerrigan for their extraordinary effort and commitment throughout this sales process. From identifying the ideal buyer for Toyota of Slidell to ensuring the best outcomes from every transaction, Kerrigan Advisors’ professionalism, expertise, and dedication were second to none. They made a complex process feel seamless and ultimately successful.”
Over the course of a few months the Bohn brothers have now fully exited the dealership business with the final sale of Toyota of Slidell. Toyota of Slidell is Slidell’s second highest volume dealership and is strategically located on the desirable Slidell auto row off I-10, a major East-West Interstate connecting Florida to California.
“We also want to take a moment to express our deepest gratitude to our exceptional employees, whose hard work and loyalty have been the backbone of our success for generations. To the community that has supported us so steadfastly over the years, thank you for placing your trust in us and allowing us the privilege to serve you. It has been an honor to be a part of your lives, and we take immense pride in the legacy we leave behind,” concluded Bohn.
New Orleans is the economic powerhouse of Louisiana, bolstered by strong economic growth projections for the next five years. This growth is driven by the presence of major corporations, renowned higher education institutions, a robust healthcare sector, and a business-friendly environment characterized by low operational costs. The city's thriving economy is complemented by a growing and diverse workforce, supported by a metropolitan population of approximately 1.2 million residents. The city is also home to several professional sports teams, providing year-round excitement for sports enthusiasts.
Recognized as the most trusted brand in the 2024 Kerrigan Dealer Survey, Toyota is also a top selling brand in New Orleans with a market share exceeding US averages by 18%. Nationally, Toyota’s light vehicle sales increased 4.2% in 2023, accounting for 12.3% of market share. In December 2023, the franchise had days’ supply of 34, well below the US average of 70 days.
“Toyota continues to be the most requested brand by auto dealership buyers. The OEMs measured approach to EVs, robust dealership profitability, strong product lineup and high throughput per franchise, measured by sales and units in operation, makes it very attractive to dealership buyers nationwide and particularly in the South, where Toyota commands strong market share,” said Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors. “We are deeply grateful for the opportunity to work with the Bohn family on this final and important transaction in the sale of their dealership and are thrilled to have found the right buyers, secured optimal values, and completed all four of the transactions seamlessly on the family’s behalf. This transaction is yet another example of the success of Kerrigan Advisors’ sale process in which our entire firm works together to ensure each client’s personal and financial goals are achieved in a once-in-a-generation sale.”
The completion of Bohn Brothers’ Toyota of Slidell transaction represents Kerrigan Advisors’ 285th franchise sold, 50th Toyota/Lexus franchise sold and its 134th franchise sold in the South since inception.
Stephen Dietrich and Brooke Sizer of Holland & Knight served as legal counsel to Bohn Brothers Automotive Group. Crowe LLP was the seller’s accountant.
About Kerrigan Advisors
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 280 dealerships representing over $9 billion in client proceeds, including the third largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. 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 does not take listings, rather they develop a customized sales approach for each client to achieve their personal and financial goals. In addition to the firm’s sell-side advisory services, Kerrigan Advisors also provides a suite of consulting and investor services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement and real estate due diligence.
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 access The Kerrigan Index™, click here. To read the 2024 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
