Dream Motor Group, co-owned by legendary University of Alabama football coach Nick Saban, former Mercedes-Benz CEO Steve Cannon, and CEO Joe Agresti, has made a significant move in the automotive industry. The group has expanded its reach into the lucrative South Florida market with the acquisition of two prominent Mercedes-Benz dealerships. This deal, estimated at around $700 million, marks a major expansion for Dream Motor Group and underscores the enduring appeal of the Mercedes-Benz brand in a key US market.
On July 31st, Dream Motor Group officially entered the Florida automotive scene by acquiring a collision center along with Mercedes-Benz of Cutler Bay and Mercedes-Benz of Coral Gables. These dealerships were purchased from Bill Ussery Motors, a well-established name in the Florida automotive landscape. Joe Agresti emphasized the scale of this transaction, stating, “This is significant. It is rare for Mercedes-Benz to produce this much volume in one fell swoop.” This acquisition immediately positions Dream Motor Group as a major player in the Florida Mercedes-Benz market.
Industry experts believe Florida’s favorable franchise laws contribute to the high profitability of dealerships in the state, making it an attractive market for expansion. Alan Haig, president of Haig Partners, a dealership buy-sell company based in Fort Lauderdale, Florida, commented on the deal, “Florida has these great franchise laws that allow dealers to generate high profits, and that shows up in high goodwill values.” Haig, though not directly involved in this particular transaction, anticipates further similar acquisitions in the near future, highlighting the robust nature of the Florida automotive dealership market.
This Florida acquisition adds to Dream Motor Group’s already impressive portfolio of dealerships across the Southern United States. Their existing locations include:
- 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 the addition of the two Florida dealerships, Dream Motor Group projects annual sales of approximately 22,000 new vehicles. Agresti further elaborated on the group’s strategic focus, stating, “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 commitment to brand excellence, particularly with Mercedes-Benz, coupled with strategic expansion into high-growth markets like Florida, positions Dream Motor Group for continued success in the competitive automotive retail sector, leveraging the star power of Nick Saban and the automotive expertise of its leadership.
