Driving the news: Serra Automotive has sold its Chevrolet dealership in Bartlett, Tennessee, to Springhill Automotive Group, according to sell-side advisors at NBB.
For context: Many large dealer groups like Serra are trimming stores that don't align with their core markets or growth strategy, while regional players like Springhill Auto are swooping in on dealerships where they have local brand equity.
Tal Vickers, dealer principal of Springhill, had been watching the store and made sure chairman Joe Serra knew he was interested.
The Chevy store will be rebranded as Dobbs Brothers Chevrolet of Bartlett.
As a result of the transaction, Serra now operates 62 dealerships across seven states, while Springhill brings its total to seven stores based throughout Alabama, Georgia, and Tennessee.
What they're saying: “The Dobbs name means a lot in this area,” said Vickers. “People in our communities know that when they hear the name Dobbs, they are hearing reliability, trustworthiness, and an answer to their automotive needs. We’re excited to bring the Dobbs name back to a community that means so much to me and my family.”
Bottom line: Strategic portfolio pruning by mega-groups is creating opportunities for regional buyers with deep local ties.
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