CHARLOTTE, N.C.--(BUSINESS WIRE)-- Sonic Automotive, Inc. (“Sonic’’ or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the nation’s largest automotive and powersports retailers, today announced the recent acquisition of Audi New Orleans, located in Metairie, Louisiana, serving the greater New Orleans area.
The Company purchased Audi New Orleans from the Bohn Brothers Automotive Group, which has a deep history of automotive dealership operations in Louisiana. Audi New Orleans opened its doors in June 2009, continuing a tradition of quality automotive sales and service established by George Bohn, Sr., in the greater New Orleans area over one hundred years ago. Kerrigan Advisors represented the Bohn Brothers Automotive Group in the transaction.
“We are thrilled to welcome the team from Audi New Orleans into the Sonic Automotive family,” said David B. Smith, Chairman and Chief Executive Officer of Sonic Automotive, Inc. “It’s an honor to continue the tradition of offering high-quality automotive sales and service experiences established in the greater New Orleans area by the Bohn family since 1924. Our team looks forward to providing a world-class guest experience to Audi New Orleans guests and furthering our commitment to delivering the Audi brand promise through this dealership.”
“We are grateful for the loyal customers, dedicated Audi New Orleans team members, and community partners for supporting the dealership for the last 15 years, and we look forward to seeing the dealership continue to serve Audi customers in the New Orleans community for years to come,” said the Bohn family.
The acquisition of Audi New Orleans complements the Company’s diverse portfolio of automotive brands. This marks Sonic Automotive's 10th Audi dealership and its first franchise automotive dealership in Louisiana. The acquisition of Audi New Orleans brings the Company’s franchise automotive dealership portfolio to 108 locations nationwide.
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 $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 2023 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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