Trophy Automotive Dealer Group has acquired Kia of Cerritos in Cerritos, Calif., according to Kerrigan Advisors, which advised the seller in the transaction.
Kerrigan said Kia of Cerritos — located in Cerritos Auto Square, the nation’s largest auto mall — is the second-highest volume Kia dealership in the U.S.
Trophy Automotive, based in Los Angeles, was founded in 2013 and operates six dealerships in Southern California.
Lou Sobh Automotive, owned by Lou and Mike Sobh, operates nine dealerships representing in Georgia, Florida, and Mississippi. Kia of Cerritos was the family’s only dealership in California.
The Atlanta-based Sobh acquired Kia of Cerritos in 2010. Having built it into one of the nation’s top-selling Kia stores, the family decided to sell it to concentrate on their holdings in the Southeast, Kerrigan said in a news release.
Mike Sobh said Trophy “will continue to provide new career opportunities for our fantastic employees and further enhance the legacy of Kia of Cerritos. We extend our gratitude to all our employees and the community for the nearly 15 years of support.”
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 285 dealerships generating more than $9 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 2024 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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