McLarty Automotive Group (MAG) has acquired all of the Mississippi holdings of Asbury Automotive Group, an Atlanta-based company.
MAG bought Gray-Daniels Auto Family, the largest dealership group in Mississippi, which is estimated to have $400 million in annual revenue. The company has a total of five dealerships, which include Gray-Daniels Toyota, Gray-Daniels Nissan Brandon, Gray-Daniels Chevrolet, Gray-Daniels Nissan North, and Gray-Daniels Ford Lincoln.
“Like McLarty Automotive Group, Gray-Daniels Auto Family is deeply rooted in the communities it serves,” Mark McLarty, MAG’s founder and chairman, said in a statement. “We are excited about the opportunity to build on its more than 30-year history and grow our presence in America’s Heartland.”
The addition of the Mississippi holdings is projected to grow MAG’s annual revenue to $1.7 billion. Founded in 2014, MAG owns and operates 23 dealerships across the Mid-South and Midwest.
“I’ve long admired and respected the McLarty family’s commitment to their team members and customers,” said David W. Hult, president and CEO of Asbury Automotive. “This transaction aligns well with Asbury’s store portfolio goals and McLarty Automotive Group’s continued expansion in the region.”