Cal Worthington's iconic Ford among dealerships sold in 4 states

The late Cal Worthington's iconic Ford dealership sold, a store part owned by a race-car driver changed hands, a dealer shed her only dealership and a group entered its second state, all in transactions that closed in the fourth quarter and first quarter.

Here's a look at the deals involving import and domestic brands and stores in Wisconsin, Indiana, Virginia and California.

Nouri/Shaver Automotive expands with purchase of iconic Worthington Ford

A Southern California dealership with a long family legacy has new owners for the first time since 1963.

Bob Nouri and Pete Shaver of Nouri/Shaver Automotive Group on Feb. 28 purchased Worthington Ford from Nick Worthington and Dave Karalis, Nouri confirmed to Automotive News.

The Long Beach dealership became the last bearing the name of Cal Worthington, who died in 2013 at 92. Cal Worthington at one point owned 29 dealerships across the country. He bought Worthington Ford in 1963.

Cal Worthington garnered local fame thanks to commercials that featured guest appearances by all kinds of animals, including a roller-skating chimpanzee.

Nouri remembers those commercials telling customers to "Go see Cal!" He said "never in my wildest imagination" did he dream he'd have any part in the dealership's legacy.

Nick Worthington, Cal Worthington's grandson, ran the dealership with his grandfather's longtime partner Karalis, who also is his father-in-law, according to Performance Brokerage Services, a buy-sell firm in Irvine, Calif.

Performance Brokerage co-founder Jason Stopnitzky, who facilitated the transaction, said he received "hundreds" of calls, texts and emails from people commenting on the deal. "He was arguably one of the most famous car guys," Stopnitzky said.

Nouri said the acquisition makes 17 dealerships for Nouri/Shaver Automotive.

Most recently, the group capped an acquisitive 2022 with the Dec. 20 purchase of a Buick-GMC-Cadillac store in Costa Mesa, Calif.

Nouri/Shaver renamed their most recent acquisition BP Ford of Long Beach, with the "BP" used as an abbreviation for Bob and Pete. Nouri said he'll use the catchphrase "Go see Bob" to pay homage to the late Worthington.

Future acquisitions are tied to the group's financial goals rather than having a specific dealership count, Nouri said.

Nouri/Shaver generated $2.1 billion in total revenue in 2022, and the duo hopes to earn $3 billion in 2023, according to Nouri. He said they'd like to reach $5 billion in total revenue by 2026.

"However many [dealerships] it would take for us to get our revenue there, that's what we're going to do," Nouri said.

Van Horn buys first Honda dealership

Van Horn Automotive Group this month made its first dealership acquisition since late 2020 with the purchase of a Honda store owned in part by a race car driver.

Van Horn Automotive, of Plymouth, Wis., on Thursday bought David Hobbs Honda in Glendale, Wis., north of Milwaukee, from David Hobbs and his son Greg Hobbs. It was the only store David and Greg Hobbs owned, Van Horn said.

David Hobbs, a member of the Motorsports Hall of Fame of America, was a longtime race car driver who competed in a variety of racing series, including Formula 1.

David Hobbs later became an analyst and color commentator for racing coverage on TV, according to his biography on the Motorsports Hall of Fame of America's website. He also voiced a character in Disney's Cars 2 in 2011, the Milwaukee Business Journal reported.

It marks the first Honda store for Van Horn Automotive, the group noted. The dealership was renamed Van Horn Honda of Glendale.

Van Horn Automotive said that as part of the purchase agreement, it will build a new Honda facility within three years.

In a statement, Jeff Niesen, president at Van Horn Automotive, said the group had been looking to add Honda for several years.

"Honda is one of the most successful and reputable import brands in the U.S.," Niesen said in the statement. "Secondly, we've been looking for an opportunity to enter the Milwaukee market and expand our customer base. We've been selling vehicles to the Milwaukee area for a number of years, but haven't had a dealership point to service those vehicles."

Van Horn Automotive has an employee stock ownership plan, or ESOP. The acquisition of David Hobbs Honda is the first since Van Horn Automotive's employee ownership rose from 30 percent to 77 percent in March 2022.

Van Horn's most recent acquisition was in November 2020 when it bought a Ford-Kia dealership in Sheboygan, Wis., the auto retailer confirmed.

Van Horn Automotive now has 16 dealerships, including 14 franchised and two used-vehicle stores, across Wisconsin and Iowa. It closed an Alfa Romeo-Fiat dealership in Iowa in September.

Dealer adds Indiana store to portfolio

Chuck Holder expanded his dealership portfolio with the Dec. 16 purchase of Harding Ford-Chrysler-Dodge-Jeep-Ram in Madison, Ind., from Andrea Farrell of Farrell Automotive Group, according to Hal Feder, managing director of Murphy Business & Financial Corp. in Williamsburg, Va., who facilitated the transaction.

Holder renamed the dealership Madison Ford-Chrysler-Dodge-Jeep-Ram. The Madison management team stayed in place, Feder said.

The southern Indiana city along the Ohio River is just across the Kentucky border.

"It's actually the second time I've sold that store," Feder told Automotive News. "I sold it to the seller."

Farrell bought the dealership — her first — from Kevin McCubbin in February 2021, according to Feder.

"She wanted to be closer to family in the Gulf States area," Feder said.

Holder now owns two stores. He sold a Chrysler-Dodge-Jeep-Ram store in Fulton, Mo., to Kevin McGrath and Mike McGrath Jr. of McGrath Imports of Chicago.

He stills owns a Ford store in Fulton with his son, Jameson Holder, Feder said.

Kody Holdings expands into Virginia, adds Toyota dealership

Kody Holdings, with 12 new-car dealerships in Maryland, added its first store outside of the state in November when it bought the former Jack Taylor's Alexandria Toyota in Virginia.

Kody Holdings is based in Waldorf, Md., about 30 miles south of Washington, D.C. Its renamed Toyota of Alexandria dealership is across the Virginia state line, but it's in the same general region, just outside of Washington.

"It's a strong market and a strong brand," said Mike Cellini, CFO for Kody Holdings.

"We have been trying to get in the market for a while, but we were really not out there buying up stores," Cellini said in a phone interview. "It came up, and it was the right fit."

Toyota of Alexandria is the group's second Toyota dealership. The first is Waldorf Toyota, which the group acquired in 2015. Tom Kody is dealer principal and president of the group.

The Alexandria dealership was in business for 36 years, according to real estate services firm Cushman & Wakefield Dealership Capital Services.

Cushman & Wakefield represented Jack Taylor, dealer principal, and his son John Taylor, who was general manager and a minority shareholder, in the Nov. 21 transaction, according to James Mitchell. He worked on the transaction along with Erin Rice.

The father-and-son team didn't own any other dealerships, said Mitchell, formerly with Cushman & Wakefield. He joined real estate firm CBRE as executive vice president of Dealership Capital Services in January.