Dream Motor Group, backed by University of Alabama’s legendary football coach Nick Saban, alongside former Mercedes-Benz CEO Steve Cannon, and CEO Joe Agresti, has significantly broadened its automotive footprint. The group has successfully acquired two prominent Mercedes-Benz dealerships in South Florida, marking a major expansion into a lucrative market. This acquisition, valued at approximately $700 million, signals Dream Motor Group’s ambitious growth strategy and its commitment to the Mercedes-Benz brand.
On July 31st, Dream Motor Group officially entered the Florida market by finalizing the purchase of a collision center, Mercedes-Benz of Cutler Bay, and Mercedes-Benz of Coral Gables. These dealerships were acquired from Bill Ussery Motors, a well-established name in the automotive retail sector. Joe Agresti highlighted the significance of this transaction, noting, “This is significant. It is rare for Mercedes-Benz to produce this much volume in one fell swoop.” The acquisition immediately positions Dream Motor Group as a major player in the competitive South Florida luxury car market.
Industry experts recognize Florida as an attractive market for automotive dealerships due to favorable franchise laws. Alan Haig, president of Haig Partners, a dealership buy-sell firm based in Fort Lauderdale, Florida, commented on the market dynamics. “Florida has these great franchise laws that allow dealers to generate high profits, and that shows up in high goodwill values,” Haig explained. Although Haig’s firm was not involved in this particular deal, his observation underscores the strategic rationale behind Dream Motor Group’s expansion into the Sunshine State. He further anticipates seeing similar high-value transactions in the automotive retail landscape in the near future, suggesting a trend towards consolidation and strategic acquisitions within the industry.
The addition of Mercedes-Benz of Cutler Bay and Mercedes-Benz of Coral Gables to their portfolio strengthens Dream Motor Group’s already impressive network of dealerships. Their existing holdings span across several Southern states, including:
- Mercedes-Benz of The Woodlands in Texas
- Mercedes-Benz of Baton Rouge in Louisiana
- Mercedes-Benz of Birmingham in Irondale, Alabama
- Mercedes-Benz of Music City in Nashville, Tennessee
- Ferrari dealership Prancing Horse of Nashville, Tennessee
- Infiniti of Birmingham in Hoover, Alabama
With these new Florida locations, Dream Motor Group anticipates selling approximately 22,000 new vehicles annually. Joe Agresti further articulated the group’s focused brand strategy: “Unlike most dealers who spend a lot of time thinking about franchise diversity, we spend a little bit of time doing that. We spend more time trying to be the best we can at running the brands we have, so we consider ourselves a bit of Mercedes-Benz experts.” This statement emphasizes Dream Motor Group’s dedication to specializing in and excelling with the Mercedes-Benz brand, leveraging the expertise of leaders like former Mercedes-Benz CEO Steve Cannon and the business acumen of Nick Saban to drive success in the luxury automotive market.
