HAIG PARTNERS SERVES AS EXCLUSIVE ADVISOR ON THE SALE OF LUSTINE AUTOMALL TO GRAHAM HOLDINGS COMPANY (NYSE: GHC)

Rhea-AI Summary

Haig Partners LLC advised Lustine Automall in its sale to Graham Ourisman Automotive, a venture between Graham Holdings Company (NYSE: GHC) and Chris Ourisman. The acquisition includes Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram located in Woodbridge, VA. Haig Partners has facilitated the sale of 15 dealerships in Virginia and 29 nationwide in 2022. The dealerships are expected to thrive in the competitive DC automotive market, benefiting from strong product offerings from Toyota and Chrysler-Dodge-Jeep-Ram.

Positive

• Graham Holdings Company expands its automotive portfolio by acquiring Lustine Automall.
• Lustine Automall includes two profitable dealerships, which can enhance GHC's revenue.
• DC Metropolitan area is recognized as a strong car market, beneficial for dealership performance.

Negative

• None.

FORT LAUDERDALE, Fla., July 6, 2022 /PRNewswire/ -- Haig Partners LLC, the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to Lustine Automall in its sale to Graham Ourisman Automotive, a partnership between Graham Holdings Company (NYSE: GHC) and Chris Ourisman. Lustine Automall consists of Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram of Woodbridge, VA.

The team at Haig Partners has been involved in the purchase or sale of 15 dealerships in Virginia.

Graham Holdings Company is a diversified holding company headquartered in Arlington, VA. It was formerly the owner of the Washington Post newspaper and Newsweek magazine. Graham Holdings now invests in a variety of industries, including automotive dealerships. Christopher J. Ourisman, a fourth generation member of the Ourisman Automotive Group family of dealerships, and his team of industry professionals will operate and manage the dealerships.  GHC has also invested in four other dealerships: Ourisman Lexus of Rockville, Ourisman Honda of Tysons Corner, Ourisman Jeep of Bethesda, and Ourisman Ford of Manassas.

Alan Haig, President of Haig Partners which represented the seller, said, "We thank the Lustine Family for giving us the opportunity to represent them on the sale of their dealerships to the Graham Ourisman partnership. Mr. Burton Lustine built two highly profitable dealerships and has been a fixture in the DC Metro auto retail business for decades before passing away late last year. And we send our congratulations to Chris Ourisman and the Graham Holdings team on this acquisition that will grow their group in the DC metropolitan area, one of the best car markets in the country. We like this partnership between knowledgeable operators that have the support of the OEMs with investment firms that are looking for attractive returns on the capital they are putting to work. Toyota and Chrysler-Dodge-Jeep-Ram dealerships are performing particularly well over the past year given their ability to produce and deliver attractive products to dealers, and that they remain committed to the traditional franchise system."

Mike Charapp and Barrie Charapp Beaty of Mahdavi Bacon Halfhill & Young, PLLC provided legal counsel to the seller.

The team at Haig Partners has been involved in the purchase or sale of 15 dealerships in Virginia. Haig Partners has advised on the sale of 29 dealerships nationwide so far in 2022.

About Haig Partners
Haig Partners LLC helps dealers to maximize the value of their businesses when they are ready to sell. The team at Haig Partners has unmatched experience with executives from leading retail dealer groups and financial institutions. They have advised on the purchase or sale of more than 575 dealerships for over $9.0 billion, more than any other firm. Haig Partners leverages its expertise and relationships to lead clients through a confidential and customizable sales process that also maximizes the value of their businesses. They author the Haig Report, the leading industry quarterly report that tracks trends in auto retail and their impact on dealership values, and are co-author of NADA's Guide, "Buying and Selling a Dealership." For more information, visit www.haigpartners.com.

Transaction Contact:
Alan Haig, Founder and President
Haig Partners
alan@haigpartners.com
(954) 646-8921

Media Contact:
Aimee Allen, Director of Marketing and Business Development
Haig Partners
aimee@haigpartners.com
(603) 933-2194

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SOURCE Haig Partners

FAQ

What is the recent acquisition involving Graham Holdings Company (GHC)?

Graham Holdings Company acquired Lustine Automall, including Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram.

When was the acquisition of Lustine Automall completed?

The acquisition was announced on July 6, 2022.

What dealerships are part of the Lustine Automall sale to GHC?

The sale includes Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram located in Woodbridge, VA.

Who was involved in the advisory role for the Lustine Automall sale?

Haig Partners LLC served as the exclusive sell-side advisor for Lustine Automall.

How many dealerships has Haig Partners facilitated in 2022?

Haig Partners has facilitated the sale of 29 dealerships nationwide in 2022.