Keating Auto Group expanded its Texas footprint with the acquisition of Northwest Chrysler Dodge Jeep Ram (CDJR) from Ken Garff Automotive Group.
Northwest CDJR, located in the high-volume Northwest Houston auto retail market, benefits from a robust market area and strong truck and SUV sales, with light trucks accounting for 78% of new unit sales in 2023. Houston’s economy, bolstered by 26 Fortune 500 companies and a thriving tech sector, continues to attract significant population growth and business investments.
Keating Auto Group’s portfolio now includes approximately 30 dealerships across Texas.
Ken Garff Automotive Group, founded 90 years ago in Utah, has 73 dealerships across nine states, ranking as the ninth largest U.S. dealership group by Automotive News based on 2023 new unit sales. It had owned Northwest CDJR since 2007.
The transaction was managed by Kerrigan Advisors, its 17th franchise sale in Texas within the past year.
“Once we decided to selectively divest this CDJR dealership, we knew Kerrigan Advisors was the only team to represent us,” said Brett Hopkins, CEO of Ken Garff Automotive Group. “We strive to work with the best service providers in the industry and have always valued our relationship with Kerrigan Advisors. True to form, they ran a sales process that was professional and efficient, resulting in an excellent financial outcome for all parties.”
“We were thrilled to have the opportunity to work with the Garff team again,” said Ryan Kerrigan, managing director of Kerrigan Advisors. “This transaction was a classic example of the extraordinary buyer demand for domestic dealerships in high-growth markets. And, as evidenced by the level of interest we saw in this high-volume metro store, Texas is one of the hottest markets in the country. As they say, everything is bigger in Texas!”
“I want to thank the Garff family for entrusting Kerrigan Advisors to serve as their exclusive sell-side advisor on this transaction,” said Erin Kerrigan, founder and managing director of Kerrigan Advisors. “With an estimated 250+ new residents moving to Houston every day, the area has consistently ranked in the top five for population growth. Transactions like this continue to demonstrate that there is strong buyer demand for the fastest growing markets in the U.S., like Houston. We are proud to have helped shepherd this transaction to such a successful outcome and congratulate Ben Keating and his team on a stellar addition to the Keating Auto Group.”
