Dream Motor Group, co-owned by University of Alabama’s celebrated football coach Nick Saban, alongside former Mercedes-Benz CEO Steve Cannon, and CEO Joe Agresti, has significantly broadened its automotive footprint. The group has acquired two Mercedes-Benz dealerships in South Florida, marking a substantial $700 million investment. This strategic move into the lucrative Florida market was finalized on July 31 and includes a collision center, Mercedes-Benz of Cutler Bay, and Mercedes-Benz of Coral Gables, all purchased from Bill Ussery Motors.
Joe Agresti highlighted the rarity and scale of this acquisition, stating, “This is significant. It is rare for Mercedes-Benz to produce this much volume in one fell swoop.” Industry experts like Alan Haig, president of Haig Partners, pointed to Florida’s favorable franchise laws as a key driver for high dealer profitability and goodwill values, making it an attractive market for such acquisitions. Haig anticipates further similar transactions in the automotive sector within the coming year, though Haig Partners was not involved in this particular deal.
This acquisition adds to Dream Motor Group’s already impressive portfolio of dealerships across the Southeast, which includes:
- Mercedes-Benz of The Woodlands (Texas)
- Mercedes-Benz of Baton Rouge (Louisiana)
- Mercedes-Benz of Birmingham (Irondale, Alabama)
- Mercedes-Benz of Music City (Nashville, Tennessee)
- Ferrari dealership Prancing Horse of Nashville (Tennessee)
- Infiniti of Birmingham (Hoover, Alabama)
With the addition of the Florida dealerships, Dream Motor Group projects annual sales of approximately 22,000 new vehicles. Agresti emphasized the group’s focused approach: “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 acquisition underscores Dream Motor Group’s commitment to expanding its presence within the Mercedes-Benz brand and capitalizing on the strong market conditions in Florida.
