The Presidio Group Exclusively Advised Fletcher Jones Automotive Group on the Sale of Porsche, Mercedes-Benz and Audi dealerships in Northern California to AutoNation
The Presidio Group LLC ("Presidio"), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Fletcher Jones Automotive Group ("Fletcher Jones") on the sale of Fletcher Jones Motorcars (Mercedes-Benz) of Fremont, Audi Fremont and Porsche Fremont in Fremont, Calif., and their related real estate, to AutoNation Inc. ("AutoNation") (NYSE:AN). The transaction closed June 22.
This Northern California divestiture comes on the heels of Fletcher Jones’ March acquisition of Mercedes-Benz of Beverly Hills, which bolstered the dealership group’s already-significant Southern California footprint and was also facilitated by The Presidio Group. With the moves, Fletcher Jones continues to align its dealership portfolio with its long-term strategic goals.
"When we decided to sell these stores as part of our regimented portfolio management initiatives, we set out to find a buyer that would provide the right level of care for the dealerships and their employees and customers," said Keith May, president of Fletcher Jones Automotive Group. "Having sold two stores to AutoNation in 2025, we had strong confidence in its ability to represent these great luxury brands. This is our third transaction with Presidio, our trusted partner, in less than a year, and their team delivered once again, with their utmost professionalism and expertise ensuring another smooth close."
For AutoNation, one of the largest dealership groups in the U.S., the acquisition builds on its existing presence in Northern California with a focus on premium brands.
"This acquisition strengthens our premium luxury portfolio in a highly attractive California market and reflects our disciplined approach to deploying capital into high-quality assets," AutoNation CEO Mike Manley said.
Presidio is among the most active of the industry’s top buy-sell firms when it comes to the sale of luxury-brand dealerships and locations in California. The firm has advised on more than 130 transactions involving luxury franchises, nearly 42% of its all-time deal activity. With this sale, Presidio also has advised on transactions involving 44 California dealerships.
"We were honored to represent Fletcher Jones, one of the most iconic luxury dealership groups in the country, in this sale," said George Karolis, president of The Presidio Group. "Their trust in the Presidio team and confidence in our ability to forge relationships with the industry’s biggest and best retailers like AutoNation is truly gratifying. With our track record, including transactions involving 24 Mercedes-Benz dealerships, Presidio is proud of the deep expertise we’ve developed in high-end, luxury automotive M&A."
This transaction also demonstrates how ongoing portfolio management activity is creating meaningful opportunities for both buyers and sellers.
"Disciplined portfolio management continues to bring well-positioned luxury assets to market," Karolis said. "Those assets are drawing intense interest from the largest and most sophisticated buyers, particularly in California, one of the most competitive markets in the country. Demand remains strong for Mercedes-Benz, Audi and Porsche stores as buyers look to expand in key markets."
The Presidio Group provided exclusive M&A advisory services to Fletcher Jones Automotive Group through its wholly owned investment bank, Presidio Merchant Partners LLC.
About Fletcher Jones Automotive Group
Since 1946, Fletcher Jones Automotive Group has been a luxury automotive retail standard bearer in the U.S. Founded by Fletcher Jones Sr. with a single store in downtown Los Angeles, the group has grown over the past 80 years into one of the most respected and renowned luxury dealership groups in the country. Home to the nation’s No. 1 Mercedes-Benz and Audi locations, Fletcher Jones has become synonymous with 5-star service, top-of-the-line quality and an unwavering commitment to customers. The group offers a comprehensive suite of services, including new and used vehicle sales, expert financing and leasing, service and maintenance, parts and electric vehicle expertise. To learn more, visit www.fletcherjones.com.
About AutoNation Inc.
AutoNation, one of the largest automotive retailers in the United States, offers innovative products and exceptional services as part of a portfolio of comprehensive solutions for our customers and their automotive needs. With a nationwide network of dealerships strengthened by a recognized brand, we offer a wide variety of new and used vehicles, customer financing, parts, and expert maintenance and repair services. Through DRV PNK, we have raised over $50 million for cancer-related causes, demonstrating our commitment to making a positive difference in the lives of our associates, customers and the communities we serve. Please visit www.autonation.com, investors.autonation.com and www.x.com/autonation, where AutoNation discloses additional information about the company, its business and its results of operations.
About The Presidio Group LLC
The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of its clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed more than 320 transactions for over $22.0 billion. The Presidio Group, based in Denver and Atlanta, publishes research, industry insights and data reports about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com.
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George Karolis
(678) 831-5520
gkarolis@thepresidiogroup.com
Lauren Pfohl
(404) 434-1837
lpfohl@thepresidiogroup.com