Sale of Vermont’s #1 ranked Subaru and Hyundai dealerships marks Kerrigan Advisors’ 288th and 289th dealerships sold since inception, and 153rd and 154th franchise sold since 2023
BURLINGTON, Vt.–(BUSINESS WIRE)–#autoindustry–Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented 802 Cars in the sale of its Burlington Subaru and Burlington Hyundai dealerships in Vermont to Hoffman Auto Group. Both dealerships rank #1 in Vermont for their respective franchises and boast strong customer loyalty. This transaction marks Kerrigan Advisors’ 288th and 289th dealerships sold since inception, and 56th multi-dealership transaction, furthering Kerrigan Advisors’ position as the leading advisor to highly valuable dealer groups across the nation.
In addition to Burlington Subaru and Burlington Hyundai, 802 Cars also owns 802 Honda, 802 Toyota and 802 Subaru – all located in Berlin, Vermont – which will be retained by the owners post-transaction.
“We chose Kerrigan Advisors for their deep expertise, and proven success advising on multi-dealership transactions, as well as their exceptional network of qualified buyers,” said Dave Birmingham, Dealer Principal of Burlington Hyundai. “Gabe Robleto and the Kerrigan team understood the complexities of a higher-value sale and guided us through a professional, efficient and discreet process. We are grateful for their support and excited to continue focusing on our other stores in Berlin, Vermont.”
“It was important to us that the sale of both dealerships be handled with care for our employees and the Burlington community,” said Steve Kelson, Managing Partner of Burlington Subaru. “Kerrigan Advisors delivered a process that respected those priorities and achieved our goals. We are proud of what we built here and deeply appreciate the loyalty of our customers and team. We look forward to continuing our commitment to Vermont through our Berlin locations.”
“Working with Dave and Steve on this transaction was truly an honor,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “We deeply appreciate the trust they placed in Kerrigan Advisors to represent these valuable dealerships, which have been such an important part of the Burlington community. Our focus was to manage a professional and thoughtful sales process that honored everything they built over the years. It was a privilege to support them through this important transition, and we are proud to have helped position their dealerships for continued success under the ownership of the Hoffman Auto Group.»
Burlington is home to an affluent resident base comprising 35% of Vermont’s population. The population has grown 3.4% since 2019, outpacing the U.S. growth rate by an impressive 70%. The economy is thriving, with GDP growing by 28% since 2017 to over $17 billion, making it the largest economy in Vermont. The area has strong roots in the technology, manufacturing and healthcare industries, including Dealer.com, GlobalFoundries and the University of Vermont Medical Center.
Since 2008, Subaru and Hyundai have ranked #1 and #3 among import non-luxury franchises in sales growth, up 224% and 88%, respectively, driven by strong product pipelines. Vermont leads the nation with a 15% Subaru market share – an estimated 300% above the national average – making it a key market for the OEM. Both brands have single-point representation in Burlington, the state’s largest market.
“In today’s buy/sell market, buyers are increasingly prioritizing higher volume dealerships, and Burlington Subaru and Burlington Hyundai stood out, each ranking #1 in Vermont for their brands,” said Gabe Robleto, Senior Vice President at Kerrigan Advisors. “Vermont’s exceptionally strong Subaru market share and Burlington’s growing economy made this a highly attractive opportunity. By leveraging our extensive buyer database, we were gratified to achieve an excellent outcome for 802 Cars and for their communities. We congratulate the Hoffman family on the addition of two prized stores.”
About Kerrigan Advisors
Kerrigan Advisors is the leading sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of over 290 dealerships generating more than $9 billion in client proceeds, including two of the largest transactions in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group and Leith Automotive to Holman. The firm advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors is the only firm in auto retail exclusively dedicated to sell-side advisory, providing its clients the assurance of a conflict-free approach.
Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, which includes Kerrigan Advisors’ signature blue sky charts, multiples, and analysis for each franchise in the luxury and non-luxury segments. To download a preview of the report, click here. The firm also releases monthly The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here. To read the 2024 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
Contacts
Kerrigan Advisors Media Contact:
Melanie Webber ([email protected]), mWEBB Communications, 949-307-1723
