Lithia Motors, Inc. has acquired two Mercedes-Benz dealerships—Mercedes-Benz of Jackson in Mississippi and Mercedes-Benz of Collierville in Tennessee. The sale was advised by The Presidio Group, representing the sellers Trudy Higginbotham Moody, Wallis Higginbotham, and their family.
The deal was finalized on June 2 and included both the dealership operations and their associated real estate.
“This purchase allows us to expand our presence in Mississippi and Tennessee, two strategic markets for our company,” said Bryan DeBoer, president and CEO of Lithia Motors. “This marks our fifth transaction facilitated by Presidio, with the combined revenue from those deals now exceeding $4 billion.”
The two Mercedes-Benz dealerships were part of a long-standing automotive business built by Dennis Higginbotham. He began his career in 1976 and sold his first group of dealerships to Sonic Automotive in 1998. The family reentered the auto retail industry in 2001 with the Jackson store and later added the Collierville location.
“After careful consideration, our family made the difficult decision to sell these stores,” said Trudy Higginbotham Moody, dealer principal of the Jackson dealership and a recent nominee for Mississippi’s TIME Dealer of the Year. “We relied on our trusted friends at Presidio to guide us through a smooth transaction that honors our family’s heritage and our father’s legacy.”
Lithia already operates several stores in both states. The new acquisitions help the company continue expanding in the Southeast and strengthen its presence in the luxury vehicle segment.
“Despite ongoing trade concerns, well-capitalized dealers are still pursuing strategic acquisitions to grow their market reach,” said George Karolis, president of The Presidio Group. “Our team was well-positioned to represent these dealerships, especially with our strong background in luxury automotive transactions and Mercedes-Benz stores.”
Legal representation for the Higginbotham family came from Eric Gregory of Gregory Law, LLC. Lithia’s legal team included general counsel Edward Impert and legal director Aaron Weisman. Presidio offered exclusive M&A advisory services through its investment bank, Presidio Merchant Partners LLC.
