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Bradenton-based Gettel Automotive has acquired Stadium Toyota in Tampa.
Financial terms of the deal weren’t disclosed. Ranked within the top 10% of Toyota dealerships in the U.S., Stadium Toyota was owned by the Parks and Couey families, according to a statement from Kerrigan Advisors, an auto dealership sell-side firm that consulted with the owners on the sale. Stadium Toyota is at 5088 N. Dale Mabry Highway.
Kerrigan Advisors, in the statement, says “Stadium Toyota was one of the last remaining unconsolidated Toyota points in the market, not already owned by a nationally-ranked dealership group. As a result, Stadium Toyota’s franchise value, particularly as compared to its revenue, was record-breaking.”
Gettel Automotive is the No. 57 largest dealership group in the U.S, the release states. It had $1.46 billion in revenue in 2022 and has some 20 dealerships spread from the west coast of Florida to Ocala, Gainesville and Georgia. Brands it sells range from BMW and Volkswagen to Acura, Nissan and Chrysler Dodge Jeep RAM.
“We're very thankful for everything the greater Tampa community has done to help Stadium Toyota, its employees and customers achieve success, which is why we have always been committed to giving back to our community in every way that we can,” Ron Parks says in the statement.
The transaction marks the 206th dealership sold by Kerrigan Advisors since 2015, and the 36th Toyota/Lexus dealership.
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