Driving the news: Dobbs Family Automotive purchased two dealerships from Fields Auto Group in a deal that closed Oct. 5.
For context: Dobbs purchased Fields Mazda of Asheville and Fields Chrysler, Dodge, Jeep, Ram of Asheville in that North Carolina city.
They were renamed Dobbs Mazda of Asheville and Dobbs Chrysler, Dodge, Jeep, Ram of Asheville.
The Stellantis store, the only one in Asheville proper, was top-selling in its market the past five years, according to Kerrigan Advisors, which represented the seller.
And the nearest competing Mazda store is more than 60 miles away, Kerrigan Advisors said.
Together, the stores have a combined 32 service bays in fresh, image-compliant facilities that total more than 64,000 square feet on more than 11 acres.
What they’re saying: Dobbs (of Memphis, Tenn.) spans 14 dealerships in multiple states, including Ohio, Alabama, and Kansas.
John Dobbs Jr., president of the third-generation, family-owned group, said in a statement that they were excited to expand into the Asheville market.
“We believe in the growth of the Mazda and CDJR brands and their product lineups, and in the future of the Asheville market,” Dobbs said. “Our family has been part of auto retail for more than 100 years, and we look forward to bringing that legacy to Asheville.”
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Worth noting: Asheville’s population passed 422,000 in 2024 after growing 38% faster than the national average since 2020, according to Kerrigan Advisors, who said the metro’s $31 billion economy grew 43% over that same period.
The family-owned, Illinois-based Fields Auto Group now owns 34 dealerships in five states, including Florida, Wisconsin, and Washington.
Owner John Fields said in a statement that the stores are in good hands with the new owners.
“This sale also lets us sharpen our focus on our luxury dealerships in the Asheville market, namely BMW, Mercedes-Benz and Land Rover,” Fields said.
Strategic note: Chris Gempton, Kerrigan’s senior vice president of sell-side advisory, said in a statement that geography is one of the biggest drivers of franchise value.
“As our latest Blue Sky Report shows, geography is one of the most impactful drivers of franchise value, and North Carolina is one of those states where we see premium prices as a result of its business-friendly environment and outsized population growth,” Gempton said.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by Presidio.
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