Automotive retailer acquires Baltimore’s Jerry’s Toyota

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AutoNation Inc., a publicly traded national automotive retailer, has acquired Baltimore-area car dealership Jerry’s Toyota, a fixture in the Mid-Atlantic for more than four decades, Dave Cantin Group announced.

As AutoNation expands in the Mid-Atlantic, ownership of Jerry’s Toyota transitions from James Stautberg and his family. DCG, a New York-based financial consulting company, represented the seller. Though DCG did not disclose terms of the transaction, the deal was worth somewhere between $123 million and $125 million, according to reports.

The transaction marks AutoNation’s first Toyota acquisition in more than a decade, according to a release. Located at 8001 Belair Road in Nottingham, the dealership is now named AutoNation Toyota White Marsh.

“To me, this is a family business,” Stautberg said according to a release. 

“We’ve been part of the Baltimore community since 1957, we’ve sold cars to multiple generations of the same families, and that means everything to me. I wanted to entrust this business – and my associates and customers – to someone who would take care of them. AutoNation has a strong reputation in Maryland, and I felt comfortable with the connection Dave Cantin Group established between us.”

The Baltimore-Washington corridor is one of the highest-performing Toyota regions in the U.S., according to DCG, which played a role in AutoNation’s decision.

“Jerry’s Toyota has been a cornerstone of the Mid-Atlantic automotive community for decades,” Dave Cantin Group CEO Dave Cantin said. 

“Supporting this multi-generational succession plan and helping this respected organization transition to the next chapter with a world-class operator like AutoNation is an honor. This is a great example of the thoughtful succession planning needed across our industry as consolidation accelerates and ownership dynamics evolve.”