The automotive landscape in Louisiana has shifted with the acquisition of Toyota of Slidell by Carlock Automotive, marking Carlock’s entry into the state. Kerrigan Advisors, a leading sell-side advisor in the auto industry, played a crucial role in representing the New Orleans-based Bohn Brothers Automotive Group in this significant transaction. This sale represents the final chapter for the Bohn Brothers Automotive Group’s portfolio, which previously included Audi of New Orleans, Audi Lafayette, and Hyundai Genesis of Metairie.
Gabe Robleto, Senior Vice President of Sell-Side Advisory at Kerrigan Advisors, highlighted the firm’s satisfaction in facilitating this deal. “We are thrilled to have advised the Bohn family on the successful sale of their final dealership,” Robleto stated. “Their trust in our team to navigate this important transition is deeply appreciated. We are confident that Toyota of Slidell will continue to flourish under Carlock Automotive’s leadership. This acquisition is a significant milestone for Carlock as it establishes its first foothold in Louisiana, inheriting the esteemed legacy of the Bohn Brothers.”
The Bohn Brothers Automotive Group boasts a rich history dating back to 1924 when George W. Bohn established their first Ford dealership in New Orleans. Over three generations, the family expanded their automotive footprint, incorporating brands like Toyota, Audi, Buick, Pontiac, Hyundai Genesis, and GMC. While they divested some dealerships in 2000, Toyota of Slidell remained a cornerstone. In 2009, Donny, Scott, and Van Bohn further expanded by adding Audi New Orleans, Audi Lafayette, and Hyundai Genesis of Metairie to their portfolio.
Donny Bohn, Co-Owner of Bohn Brothers Automotive Group, expressed mixed emotions about stepping away from the business after a century of service to the New Orleans community. “This is a bittersweet moment for our family,” Bohn acknowledged. “Our enduring partnership with Gulf States Toyota since 1987 has been instrumental to our success, and we are incredibly grateful for this journey. We extend our sincere gratitude to Gabe Robleto and the Kerrigan Advisors team for their exceptional guidance throughout this process. Their professionalism, expertise, and unwavering commitment were invaluable in identifying the ideal buyer for Toyota of Slidell and ensuring the best possible outcomes for every transaction.”
The sale of Toyota of Slidell concludes the Bohn brothers’ exit from the dealership business. Toyota of Slidell stands as a high-volume dealership in Slidell, strategically positioned on the prominent Slidell auto row off I-10, a major interstate connecting Florida to California. This prime location enhances its accessibility and market reach.
Bohn also expressed deep appreciation for their employees and the Slidell community. “To our dedicated employees, your hard work and loyalty have been the foundation of our success for generations. To the community, thank you for your unwavering support and trust. It has been an honor to serve you, and we are proud of the legacy we leave behind.”
New Orleans’ robust economy further underscores the strategic value of Toyota of Slidell. As Louisiana’s economic hub, New Orleans is projected for strong growth, fueled by major corporations, renowned universities, a thriving healthcare sector, and a business-friendly environment. The city’s dynamic economy is supported by a growing and diverse workforce within a metropolitan area of approximately 1.2 million residents. The city’s vibrant culture and professional sports teams add to its appeal.
Toyota’s brand strength is a significant asset to this acquisition. Recognized as the most trusted brand in the 2024 Kerrigan Dealer Survey, Toyota also enjoys strong sales in New Orleans, exceeding the US average market share by 18%. In 2023, Toyota’s national light vehicle sales increased by 4.2%, capturing 12.3% of the market share. In December 2023, Toyota franchises maintained a lean 34-day vehicle supply, significantly lower than the US average of 70 days, highlighting strong demand and efficient inventory management.
Erin Kerrigan, Founder & Managing Director of Kerrigan Advisors, emphasized Toyota’s continued desirability in the auto dealership market. “Toyota remains the most sought-after brand among dealership buyers,” Kerrigan noted. “Their strategic approach to electric vehicles, strong dealership profitability, robust product lineup, and high sales throughput make Toyota franchises exceptionally attractive, particularly in the South, where they command a strong market presence. We are honored to have assisted the Bohn family in this pivotal transaction and are delighted to have found the right buyer, secured optimal value, and seamlessly completed all four transactions on their behalf. This sale exemplifies Kerrigan Advisors’ commitment to achieving our clients’ personal and financial objectives in a significant business transition.”
The Toyota of Slidell transaction marks Kerrigan Advisors’ 285th franchise sale, 50th Toyota/Lexus franchise sale, and 134th franchise sale in the Southern region since its inception, further solidifying their position as a leading advisor in the automotive retail sector.
Legal counsel for Bohn Brothers Automotive Group was provided by Stephen Dietrich and Brooke Sizer of Holland & Knight, with Crowe LLP serving as the seller’s accountant.
About Kerrigan Advisors
Kerrigan Advisors is the foremost sell-side advisor and thought partner for auto dealerships nationwide. Founded in 2014, the firm has facilitated the sale of over 280 dealerships, representing over $9 billion in client proceeds, including the third-largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. Kerrigan Advisors specializes in advising leading dealership groups, enhancing value throughout the business lifecycle, from growth and operations to strategic sales. With a team of seasoned industry experts from investment banking, private equity, accounting, finance, and real estate, Kerrigan Advisors develops bespoke sales strategies to meet each client’s unique personal and financial goals, rather than simply listing dealerships. Beyond sell-side advisory services, Kerrigan Advisors offers a comprehensive suite of consulting and investor services, including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement, and real estate due diligence.
Kerrigan Advisors regularly monitors buy/sell market conditions and publishes in-depth analysis quarterly in The Blue Sky Report®, featuring proprietary blue sky charts, multiples, and franchise analysis across luxury and non-luxury segments. To download a preview of the report, click here. The firm also publishes the monthly Kerrigan Index™, tracking the seven publicly traded auto retail companies focused on the US market. This index provides insights into dealership valuation trends and key factors influencing auto retail. To access The Kerrigan Index™, click here. For the 2024 Kerrigan Dealer Survey, click here. and the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors is also a co-author of NADA’s Guide to Buying and Selling a Dealership.
Contacts
Kerrigan Advisors Media Contact: Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 949-307-1723
