Trophy Automotive Dealer Group Purchases Kia Dealership in California
Lou Sobh Automotive Group has sold its Kia of Cerritos dealership in California to Trophy Automotive Dealer Group. Kia of Cerritos is the second highest volume Kia dealership in the US and is located in the country’s largest auto mall, Cerritos Auto Square.
The Lou Sobh Automotive Group, owned by Lou and Mike Sobh, operates nine dealerships representing Honda, Kia, Volkswagen and Mazda across Georgia, Florida, and Mississippi. Kia of Cerritos was the family’s only dealership in California. LA-based Trophy Automotive Dealer Group was founded in 2013 and has six award-winning dealerships in Southern California.
Although the Sobh family has been rooted in the greater Atlanta area for over 20 years, in 2010, recognizing the appeal of the Los Angeles County car market – the US’ largest car market – and with a foundation of great success with the Kia brand in the Southeast, the Sobhs acquired Kia of Cerritos and built it into one of California’s highest volume Kia dealerships.
With this milestone achieved, the Sobh family—which has been expanding their dealership network across the Southeast—made the decision to sell the Cerritos dealership so they could direct their efforts on projects in the Southeast. Kerrigan Advisors represented Lou Sobh Automotive Group in the sale
“As our team focuses its efforts on growing our footprint in the Southeast, it was so important to be able to depend on Kerrigan to identify a capable buyer – one that will continue to provide new career opportunities for our fantastic employees and further enhance the legacy of Kia of Cerritos,” said Mike Sobh, Co-owner of Lou Sobh Automotive Group.
Money Subaru in Salina, Kansas Acquired by Midway Motors
Money Subaru has been purchased by Midway Motors in a deal brokered by Performance Brokerage Services. Money Subaru will be renamed Salina Subaru and will remain at its current location on South 9th Street in Salina, KS.
Midway Motors is a growing automotive group located in Kansas. With the addition of Money Subaru, the group consists of six stores, representing Chevrolet, GMC, Ford, Chrysler, Dodge, Jeep, Ram, and Subaru.
After the sale, Mike Money of Money Subaru commented, “when I decided to divest my store, I knew I wanted to reach out to [ Eric Scott with Performance Brokerage Services]. The decision to sell wasn’t easy for me, but I was confident that working with [Scott] was the right choice.”
Lithia & Driveway Expands Retail Network in Southwest Region
Lithia & Driveway (LAD) acquired Elk Grove Subaru in Elk Grove, CA, adding an additional store to its network in the Sacramento area, and continuing to strengthen its density in the Southwest region.
“We are excited to welcome the talented team at Elk Grove Subaru to the Lithia and Driveway team,” said Bryan DeBoer, Lithia & Driveway President and CEO. “This addition strengthens our presence in the Southwest region and continues our strategy of expanding our network with high-performing partners like Subaru. We look forward to continuing the store’s legacy of building customer loyalty and leveraging our omnichannel capabilities to realize Elk Grove’s potential.”
This acquisition adds expected annual revenue of $100 million and brings LAD’s total year-to-date annualized revenue acquired to $180 million.
Hubler Automotive Group Expands with the Acquisition of Beck Toyota
Hubler Automotive Group announced the purchase of Beck Toyota. The Indianapolis, IN, dealership will now operate as Hubler Toyota under the leadership of Brooke Hubler Haines and Zach Strain.
Founded in 1986 by Dennis and Phyllis Beck, Beck Toyota has been a staple in the local automotive industry for nearly four decades. As the Becks sought to transition the business, their long-standing friendship with the Hubler family made this acquisition a natural fit, ensuring the dealership remains locally owned and operated.
“This is an exciting opportunity for the Hubler Auto Group, and we will make the most of it. We are thrilled to welcome all the new employees joining our team,” said Brooke Hubler Haines, dealership manager.
The dealership has retained all 65 employees of Beck Toyota in their current roles. Customers can expect continued excellence in service, with plans for facility enhancements and lot expansion to accommodate a larger inventory of vehicles. A new website, HublerToyota.com, will launch offering customers a convenient way to explore inventory and services
As Indiana’s largest parts wholesaler, Hubler Toyota will also provide Toyota parts to wholesale customers and introduce Hubler’s exclusive 10-year/200,000-mile powertrain warranty on new Toyota models.
“I am excited to represent Toyota on the south side of Indy and grow the dealership by offering everyone a great customer experience,” said Brad Hubler, owner of Hubler Automotive Group.
