Ken Garff Automotive Group announced the acquisition of two top-performing Toyota dealerships in the country – Avondale Toyota in Arizona, and One Toyota of Oakland in California.
“Acquiring these two highly successful Toyota dealerships is an exciting opportunity to deepen our presence in markets where we already have a strong foundation,” said Brett Hopkins, CEO, Ken Garff Automotive Group. “These are exceptional stores with proven track records, talented teams, and tremendous customer loyalty powered by their unique ‘One Person, One Price’ model. We’re proud to add these dealerships and their teams to our portfolio and look forward to building on their success into the future.”
This acquisition marks Ken Garff’s sixth and seventh Toyota franchises, with four stores currently in California and one in Wyoming. Avondale Toyota is a top-selling store ranking fifth in the nation for Toyota retailers based on sales, while One Toyota of Oakland ranks in the top 50 nationwide.
The businesses were sold by Brian McCafferty, a pioneer in the auto industry and visionary of the ‘One Person, One Price’ model, dating back to 2005 at Avondale Toyota and 2010 at One Toyota of Oakland.
“Choosing the right partner to continue the culture and legacy I’ve built was incredibly important to me, as I wanted to find a group that shared our commitment to our employees, customers, and communities,” said seller Brian McCafferty. “Ken Garff Automotive Group has demonstrated our same long-term mindset and an appreciation for the unique operating model that we’ve built. I’m confident they are the right stewards to build upon that foundation and take these dealerships forward.”
Ronald Bowie at Ivy List is acting as exclusive advisor to Brian McCafferty and team. J.P. Morgan Securities LLC is acting as exclusive financial advisor to Ken Garff Automotive. The deal will include the real estate in addition to the dealerships.
Ken Garff plans to continue to build upon the success of these dealerships by retaining current leadership and employees, as well as naming Devin McCafferty, current general manager at One Toyota, as the Ken Garff Regional Vice President over the two Toyota stores and the five dealerships Ken Garff has in the Phoenix market.
Ken Garff Automotive Group is the ninth largest dealership group in the country and the third largest privately owned, according to Automotive News. Post-transaction, the group will own 71 dealerships in nine states.
