Tennessee Toyota Store Sells
Toyota of Gallatin, which had been owned by Stumbo Automotive for seven years, keeps its name after Lithia Motors acquired it.
Pinnacle Mergers & Acquisitions
Automotive retail giant Lithia Motors picked up a Nashville-area Toyota dealership from a small Southern auto group.
Toyota of Gallatin had been owned by Stumbo Automotive for seven years. Group President David Stumbo decided to exit the Nashville market to focus on his Bowling Green, Ky., Toyota store.
Pinnacle Mergers & Acquisitions brokered the transaction for Stumbo.
Lithia, which operates several hundred dealerships across the country, kept the dealership’s name intact instead of rebranding it. Depending on the metric, the group is typically ranked No. 1 or No. 2 among U.S. auto retailers.
“We are proud to welcome Toyota of Gallatin to the Lithia family as we continue to expand our strategic footprint across high-growth markets like Nashville,” said Lithia President and CEO Bryan DeBoer.
Toyota dealerships are valuable commodities in auto retail, Pinnacle pointed out.
“The Toyota franchise continues to command unprecedented demand and valuations, a result of its consistency, high throughput sales, profit per outlet model and the strength of their trusted mutual relationship with dealers,” said Pinnacle Executive Advisor Dennis J. Thornbill.
Pinnacle said it has represented Lithia in several transactions dating to the late 1990s.