Driving the news: Matt MacKay, owner of Louisiana-based All Star Automotive Group, has agreed to sell his dealership empire to South Carolina group, Hudson Automotive, for $700 million, reports The Advocate.
For context: The deal includes 13 dealerships representing 14 brands like Ford, Hyundai, Kia, and Toyota, plus a collision center, parts warehouse, and used car superstore.
The transaction also includes almost $200 million worth of real estate.
Why it matters: Successful family operators are cashing out while values remain elevated, and before potential market changes make dealerships less attractive.
Bottom line: The deal hinges on automaker approvals. But if it goes through, it could be Louisiana's largest dealer group sale ever.
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