Kerrigan Advisors Represents US Auto Trust in Sale of Jaguar Land Rover Dealerships in Newport Beach, Los Angeles, Pasadena and San Jose to Sonic Automotive
Transaction represents the most valuable Jaguar Land Rover sale in automotive retail history; sale of four dealerships marks Kerrigan Advisors' 76th top luxury franchise sold
Kerrigan Advisors, the leading sell-side advisor and thought partner to auto dealers nationwide, represented Los Angeles, California-based US Auto Trust in the sale of its Jaguar Land Rover ("JLR") dealerships in Los Angeles, Newport Beach and San Jose and Land Rover dealership in Pasadena to Sonic Automotive (NYSE:SAH), the 6th largest automotive retailer in the United States by 2024 new unit sales. The transaction marks the most valuable JLR sale in automotive history and makes Sonic the leading JLR retailer in the US. The sale also represents Kerrigan Advisors' 401st franchise sold nationally since 2015, cementing the firm's position as the leading sell-side advisor to higher value dealerships.
US Auto Trust's JLR platform represents some of the highest volume JLR franchises ever sold in the US. Land Rover Los Angeles ranked #1 in California and #5 in the US and serves the affluent Beverly Hills market. Jaguar Land Rover Newport Beach is one of the top franchises in California and ranked #2 in the US and Jaguar Land Rover San Jose is the highest volume Jaguar Land Rover dealership in Northern California. The group will retain ownership of its Aston Martin, Cadillac and Lotus dealerships in Southern California after the sale.
"Kerrigan Advisors played an instrumental role in making the sale happen," said Matt Kaiser, Chief of Staff for US Auto Trust. "The firm's expertise was invaluable in identifying Sonic as the ideal buyer for our valuable JLR platform. We've greatly valued our partnership with JLR and are proud of the transformation we've achieved, elevating these dealerships from among the brand's lowest NPS performers to some of the highest ranked in both customer service and sales. As an ultra-premium retail group with a deep commitment to the customer experience, we accomplished our objectives and believe the time was right to redirect our focus toward future luxury acquisitions. We remain dedicated to serving the Southern California luxury market through our other Aston Martin, Cadillac, and Lotus franchises."
"The US Auto Trust-Sonic transaction demonstrates the strong demand for premium dealership assets in top California auto retail markets like Beverly Hills, Newport Beach, Pasadena and San Jose. We were honored to represent US Auto Trust in this historic sale and congratulate Sonic on this marquee acquisition," said Ryan Kerrigan, Managing Director of Kerrigan Advisors. "We have appreciated being a thought partner to US Auto Trust as they entered the auto retail industry and, when the time was right, assisting the group in selling their lucrative JLR platform. Congratulations to US Auto Trust and Sonic on this important transaction."
Land Rover, known for its iconic SUV-only line up, has one of the most coveted dealer networks in the United States with just 202 franchises nationwide. The dealerships in this sale are known for their prime real estate and strategic locations in some of the most affluent regions in the US, benefiting from high population density per franchise and industry-leading customer loyalty scores.
California is the nation's largest auto retail market, generating over $150 billion in dealership revenue in 2024 – accounting for 12% of the US market and ranking second in average revenue per dealership. Each region represented in the sale underscores a key pillar of California's luxury auto market: affluent, brand-loyal consumers; high vehicle density; and strong, stable economic fundamentals. Los Angeles stands as the second-largest economy in the country, while Orange County continues to grow as a highly affluent region, with GDP rising approximately 58% from 2010 to 2023. Pasadena is an award-winning city known for its exceptional quality of life and high net worth population. Lastly, San Jose anchors a powerhouse economy in Silicon Valley fueled by a robust job market and many of the nation's most prominent companies.
"This transaction highlights that the combination of high volume, ideal auto retail location, and top luxury franchises creates strong buyer demand. JLR's high-margin product lineup and robust profitability further increased the appeal of US Auto Trust's JLR platform in California," said Erin Kerrigan, Managing Director of Kerrigan Advisors. "We were honored to represent US Auto Trust and work with their team to ensure this highly valuable multi-franchise transaction ran smoothly and came to a successful close."
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 400 franchises 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 sale process.
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 Blue Sky Report, click here. The firm also releases The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. 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.
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Kerrigan Advisors Media Contact:
Melanie Webber ([email protected]), mWEBB Communications, 949-307-1723