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Haig Partners Served as the Exclusive Sell-side Advisor to Penske Automotive Group, Inc. on the Sale of Marin Honda of California
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Penske Automotive Group (NYSE: PAG) has successfully sold its Marin Honda dealership in San Rafael, CA, with Haig Partners LLC serving as the exclusive sell-side advisor. In 2022, Penske Automotive generated $27.8 billion in revenue, retailing nearly 467,000 vehicles. The transaction illustrates a strong market for dealerships despite inflation concerns, as buyer confidence remains high with dealership values near record levels. Haig Partners has facilitated the purchase or sale of 70 dealerships in California, showcasing their significant role in the automotive retail sector.
Positive
Sale of Marin Honda indicates strong market demand for dealerships.
Penske Automotive generated $27.8 billion in revenue in 2022.
Transaction reflects high buyer confidence and record dealership valuations.
Negative
None.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--
Haig Partners LLC served as the exclusive sell-side advisor to Penske Automotive Group, Inc. (NYSE: PAG) on the sale of its Marin Honda dealership located in San Rafael, CA.
With the sale of Penske Automotive Group'sMarin Honda, the team at Haig Partners has been involved in the purchase or sale of 70 dealerships in California, more than any other advisory firm. (Photo: Business Wire)
Penske Automotive Group is a publicly traded auto retailer that generated $27.8B in revenue and retailed almost 467,000 new and used vehicles in 2022.
Alan Haig, President of Haig Partners, commented, “It was an honor to represent Penske Automotive Group on the sale of Marin Honda in San Rafael, California. We are proud to be the advisor of choice to the largest automotive retail groups looking to divest dealerships for various reasons.”
Haig Partners is the leading buy-sell advisory firm to auto, truck and RV dealers in the U.S. The firm has represented 25clients who qualify for the Automotive News list of the Top 150 Dealership Groups, more than any other advisory firm. With the sale of Marin Honda, the team at Haig Partners has been involved in the purchase or sale of 70 dealerships in California, more than any other advisory firm.
Haig continued, “The transaction demonstrates that there continues to be a robust appetite for dealerships despite concerns regarding inflation and changing market conditions. Many buyers remain confident that profits will be elevated for some time to come, so dealership values remain near record-high levels. It’s still an excellent time for dealers looking to sell. Also, California very much remains a state where dealers want to invest. The state has a huge population that depends upon cars to get around, so dealerships can be highly profitable.”
About Haig Partners
Haig Partners LLC helps dealers maximize the value of their businesses. The team at Haig Partners has unmatched experience with former executives from leading retail dealer groups and financial institutions. They have led the purchase or sale of more than 590 dealerships totaling $9.3 billion during their careers. Haig Partners leverages its expertise and relationships with selected dealership buyers to lead clients through a confidential and customizable sales process to generate the highest possible price. Haig Partners issues 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.
