McLarty Buys 4 Dealerships from Asbury

McLarty Buys 4 Dealerships from Asbury

December 16, 2015 — McLarty Automotive acquired four dealerships this week from the Asbury Automotive Group in Little Rock, AR. The purchase gives the McLarty group 13 dealerships — 11 that have been acquired since the end of October.

The four dealerships are North Point Nissan (McLarty Nissan of Little Rock); North Little Rock Nissan (McLarty Nissan of North Little Rock); North Point Mazda (McLarty Mazda); and North Point Volkswagen (McLarty Volkswagen). Asbury still owns BMW, Volvo, Ford-Lincoln and Toyota Scion stores in Little Rock.

The McLarty announced the acquisition, which closed on Monday December 14, in a news release yesterday.

Little Rock, AR is home for Mark McLarty, who is the founder and chairman of McLarty Automotive. Mark and his brother Franklin (who is the CEO of RML Automotive – a 30 dealership group) are fourth generation dealers.

The family business started in 1921 in Hope, AR. Their father, Thomas “Mack” McLarty also was a successful dealer before becoming President Bill Clinton’s first White House Chief of Staff.

The McLartys sold their Little Rock stores to the Asbury Automotive Group in 1999. Two of those stores — Northpoint Volkswagen and Northpoint Mazda are now back with the McLarty family following this week’s acquisition.

McLarty Automotive has embarked on a sizzling acquisition pace since Mark returned to the  in 2014 after spending 15 years acquiring and operating stores in China, Mexico and Brazil. He founded Mclarty Automotive last year with the acquisition of Bale Honda of Little Rock, which is now called McLarty Honda.

Earlier this year, the group acquired  Frank Fletcher Honda of Columbia, MI and renamed it Columbia Honda.

And in October, first reported by The Banks Report, McLarty acquired seven stores from the Joe Machens dealership group, which was the biggest dealer group in Missouri. Charles Oglesby, the former chairman and CEO of the Asbury Automotive Group, was announced as President of the McLarty group in October.

TBR also first reported that three family investment funds — Soros family, the Hunt family and the LaFrance family —  have invested with McLarty for long term growth.

 

McLarty Automotive Buys Stores, has Investment from Family Offices

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