Asbury Automotive Sells Off Provo Stores
Kerrigan Advisors, a sell-side advisor to auto dealers nationwide, represented Atlanta-based Asbury Automotive in the sale of its Larry H. Miller Ford, Chevrolet and CDJR dealerships in Provo, Utah to Salt Lake Valley Auto Group. Asbury Automotive Group is divesting these stores, originally acquired through its notable 2021 acquisition of Larry H. Miller dealerships, as part of its strategy to optimize the group’s brand mix. Salt Lake Valley Auto Group, owned by the Keyvani family, is a 4-store Utah dealership group founded in 1983.
This transaction brings Kerrigan Advisors’ completed dealership sales since 2014 to 294, leading the industry in both the US and the Western Region, with more than 130 franchises sold in the West.
“It was great to work with Kerrigan Advisors again on another successful transaction,” said David Hult, President and CEO of Asbury Automotive Group. “Erin Kerrigan and her team ensured we found the right buyer for this divestiture, and we appreciated their professional management of the sale process from beginning to end.”
“Kerrigan Advisors was with us through each stage of this transaction,” stated Amanda Parrilli, vice president of corporate development and Real Estate at Asbury Automotive Group. “Thank you to the entire Kerrigan Advisors team, including Erin Kerrigan and Pierre Dempsey, for their tremendous efforts on this sale.”