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Morgan Auto acquires Hollywood Kia in record-setting transaction
Morgan Auto Group has added another high-performing Florida dealership to its portfolio in a record-setting purchase.
The dealership group acquired Hollywood Kia in Hollywood, Fla., from Joe Levy and Steve Gutstein, according to Haig Partners, which represented the seller in the transaction.
In a news release, Haig, citing Kia executives, said the sale represented the highest blue sky value ever paid for a Kia dealership.
Hollywood Kia’s 1,582 new Kia sales through May ranks second nationally among Kia stores. Haig said it was also No. 2 in new Kia sales for 2022 and 2023, and was named to the Kia President’s Club for the past four years.
Gutstein, who has served as general manager since 2019, will remain with the dealership in that capacity.
“Brett Morgan, our CEO, and I are pleased that Steve Gutstein will be joining our team to help Hollywood Kia reach even greater heights.” Morgan Auto Group chairman Larry Morgan said. “We are big believers in the South Florida market, as evidenced by our recent acquisitions of some of the top Toyota, Honda and BMW dealerships in the U.S.”
