Dealer news: Bohn family makes its exit; Van Tuyl goes for 2 in Colorado
After 100 years, the Bohn family is out of the car dealership business.
Bohn Brothers Automotive Group sold its last dealership, Toyota of Slidell in Slidell, La., to Tennessee-based Carlock Automotive this week, according to Kerrigan Advisors, which represented the seller in the transaction.
The sale marked the end for Bohn Brothers, which had been selling cars in the New Orleans area since founder George Bohn opened his first Ford store on the city’s South Broad Street in 1924.
The third generation of the family expanded the group with new locations selling various brands, including Toyota, Audi, Hyundai, GM and GMC, but sold its stores — except Toyota of Slidell — in 2000. In 2009, George Bohn’s grandsons Donny, Scott and Van Bohn acquired three more dealerships in South Louisiana.
Those stores have been sold over the past few months, leaving the Slidell location as the company’s final remaining dealership.
“It is a bittersweet moment for our family as we step away from the business after more than 100 years of serving the New Orleans community,” Donny Bohn said. “Our partnership with Gulf States Toyota since 1987 has been a cornerstone of our journey, and we are profoundly grateful for the opportunity to be part of such a storied legacy.
“We also want to take a moment to express our deepest gratitude to our exceptional employees, whose hard work and loyalty have been the backbone of our success for generations. To the community that has supported us so steadfastly over the years, thank you for placing your trust in us and allowing us the privilege to serve you. It has been an honor to be a part of your lives, and we take immense pride in the legacy we leave behind.”
The acquisition gives Carlock its first dealership in Louisiana. The company now operates 17 locations in Tennessee, Mississippi, Alabama and Louisiana.
Van Tuyl adds second Colorado dealership
Three weeks after acquiring his first Colorado dealership, Larry Van Tuyl has doubled his holdings in the state.
The CEO of VT Companies has acquired Groove Subaru in Denver from Summit Automotive Partners, according to Pinnacle Mergers & Acquisitions, which represented the buyer in the deal.
The sale follows Van Tuyl’s acquisition of Groove Toyota in nearby Englewood, also from Summit, which now owns 13 locations in Colorado, Wyoming, Maine and Vermont.
Both dealerships will retain the Groove name.
Van Tuyl’s Visionary Automotive now operates 10 dealerships in Arizona, Texas, California and Colorado as he continues rebuilding his dealership holdings after selling the 78 stores of his original operation, Van Tuyl Group, to Warren Buffett’s Berkshire Hathaway in 2015.