FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Haig Partners LLC, the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to Duval Motor Company on the sale of Duval Honda and Duval Acura in Jacksonville, Florida, and Subaru of Gainesville, home to the University of Florida, to Lithia & Driveway (“LAD”). Duval Motor Company will continue to own and operate Duval Ford, also located in Jacksonville.
Duval Motor Company, a fourth-generation, family-owned business led by CEO Hampton Graham and President Alex Graham, has been a cornerstone of the automotive industry in Jacksonville since its founding in 1916. The company’s rich history began with the establishment of Duval Ford, which has grown to become the fourth-oldest family-owned Ford dealership in the country. The sale of the Honda, Acura, and Subaru dealerships is a strategic decision enabling Duval Motor Company to concentrate its resources and efforts on expanding its Ford network to complement Duval Ford. As the most historic dealership in their portfolio, Duval Ford will continue to be the primary focus of the Graham family, ensuring that the legacy of quality and service established over a century ago remains strong.
“I have had the distinct pleasure of working with the Graham family for over three decades,” said Kevin Nill, Managing Director with Haig Partners, “and I was truly honored when Hampton selected Haig Partners and me to advise and support the family and organization during this divestiture process. Duval Motor Company has over a century of history and deep roots in the Jacksonville community, and this transaction reflects the strength of the Duval brand, its highly desirable franchises located in one of the fastest-growing regions of the U.S., and the trust Duval Motor Company has built with their customers over four generations. It also marks an exciting new chapter for Lithia as they expand into North Florida, bringing their exceptional service and customer-centric approach to the region.”
According to Lithia, the newly acquired stores mark LAD’s debut in these markets and are projected to generate over $200 million in annualized revenue. President and CEO Bryan DeBoer shared, "We are excited to grow our footprint and enter new Florida markets with the addition of the Duval teams to the Lithia & Driveway family. These award-winning dealerships bring a strong legacy of customer service and community engagement, aligning perfectly with our growth strategy. This acquisition enhances our presence in key markets, reinforcing our commitment to providing exceptional retail experiences wherever, whenever, and however customers desire."
“We’re excited for the future of Duval Motor Company,” said Hampton Graham. “The Graham family traces our roots in Jacksonville, FL, back to Walter McRae Sr. taking a porter job with Duval Ford all the way back in 1921. Duval Ford will continue to carry on this incredible legacy created by the McRae family, and we want to continue to grow with Ford Motor Company. The deep relationships we create with our employees and customers have always been central to Duval Motor Company. To say that we will miss working with the Duval Acura, Duval Honda and Subaru of Gainesville teams would be an enormous understatement. They are family.”
Graham continued, “Haig Partners has been incredible to work with. Kevin Nill and Matt DeSantis have been professional, detail-oriented, and responsive from beginning to end. We could not ask for more from a sell-side advisor.”
The team at Haig Partners has been involved in the purchase or sale of 38 dealerships so far in 2024 and 104 in the state of Florida in their careers.
About Haig Partners
Haig Partners is a leading buy-sell advisory firm that helps owners of higher-value auto, truck, RV and powersports dealerships maximize the value of their businesses when they are ready to sell. The team at Haig Partners has advised on the purchase or sale of more than 595 dealerships with a total value of over $11.6 billion. It has represented 29 dealership groups that qualify for the Top 150 Dealership Groups list published by Automotive News, more than any other firm. Clients of Haig Partners benefit from the group's collective experience as previous executives with leading companies such as Ally Financial, AutoNation, Bank of America, Credit Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Companies and Toyota Financial Services. Leveraging its unmatched expertise and extensive relationships, Haig Partners guides clients to successful outcomes through a confidential and customized sales process. The firm authors The Haig Report®, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and co-authors NADA’s Guide, “Buying and Selling a Dealership.” Haig Partners team members are frequent speakers at industry conferences and are regularly quoted in reputable media outlets, including Reuters, Forbes, The Wall Street Journal, The New York Times, CNBC, BBC, Automotive News, Wards, CarDealershipGuy and CBT News. For more information, visit https://www.haigpartners.com.
