Kerrigan Advisors Represents Paramount Automotive in Sale of Foreign Cars Italia Charlotte & Greensboro to Hendrick Automotive Group

Sale of Paramount Automotive’s premier luxury, North Carolina-based platform, including eight total franchises in Charlotte and Greensboro, is one of the marquee luxury transactions of 2026.

CHARLOTTE, N.C.--(BUSINESS WIRE)--Kerrigan Advisors represented Hickory, North Carolina-based Paramount Automotive, owned by Benny Yount, in the sale of Foreign Cars Italia in Charlotte and Greensboro, North Carolina to Hendrick Automotive Group, the largest privately held automotive retail organization in the United States with more than 100 dealerships. Foreign Cars Italia is comprised of eight franchises: Foreign Cars Italia Charlotte (Ferrari of Charlotte, Alfa Romeo of Charlotte, Aston Martin Charlotte, Bentley Charlotte and Maserati of Charlotte) and Foreign Cars Italia Greensboro (Ferrari of Greensboro, Maserati of Greensboro and Porsche Greensboro).

Paramount’s Foreign Cars Italia has been the exclusive Ferrari retailer for both North and South Carolina since 1993, serving a combined market of more than 16 million people. Following the close of this transaction, Paramount Automotive will continue to own and operate its dealerships in Asheville, Hickory and Valdese, North Carolina.

“It was Kerrigan Advisors’ distinct honor to represent Paramount Automotive in this milestone transaction,” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors. “Foreign Cars Italia is truly a rare and coveted set of Southeast franchises – the exclusive Ferrari dealer in the Carolinas, paired with top ultra-luxury brands including a highly desirable Porsche franchise. We could not be more pleased with the outcome for Benny Yount and his family, particularly selling to the most well-regarded private dealership group in the country – Hendrick Automotive Group.”

The transaction marks Kerrigan Advisors’ 450^th franchise sold since the firm’s founding in 2014, its 165^th franchise sold in the South, and its 83^rd top luxury franchise sold, cementing the firm’s position as the premier sell-side exclusive advisor to luxury dealers in the industry. The transaction brings Ferrari, Alfa Romeo, Aston Martin, Bentley and Maserati into Hendrick Automotive Group’s current retail portfolio, while adding its third Porsche franchise.

“Paramount has always stood for excellence and doing right by our customers, employees and community. This is why Kerrigan Advisors, whose track record reflects these same values, was the only firm we considered to guide us through this momentous transaction for our family,” said Benny Yount, President and CEO of Paramount Automotive. “We have a lot of respect for the Hendrick organization and Rick Hendrick personally, a long-time customer and a good friend. We could not be more pleased to know that our luxury business will be shepherded by Hendrick Automotive Group going forward and are excited to see our franchises flourish with their leadership.”

“Benny and his family have built something special, and it’s incredibly meaningful that they’ve entrusted us to carry it forward,” said Rick Hendrick, Chairman and CEO of Hendrick Automotive Group. “It’s a privilege to represent these world-class brands and welcome talented new teammates to our organization. We also appreciate Erin Kerrigan and Kerrigan Advisors for helping facilitate a smooth and successful transaction.”

“This is an exciting transition for our luxury dealerships, and we are very grateful for the support of our customers and employees over the years,” said Nick Kincaid, COO of Paramount Automotive. “Benny built this company on the core tenets of the Golden Rule, providing superior customer and community service first and foremost. Kerrigan Advisors understood that and approached our sale with that same ethos. Thank you to the entire Kerrigan Advisors team, particularly Erin Kerrigan, Gabe Robleto, Mercedes Hendricks, Pierre Dempsey and Marie Brashears, for their tireless work on our behalf. We could not have asked for a better advisor to guide us through each phase of the sale process.”

The Foreign Cars Italia transaction offered a rare opportunity to acquire marquee franchises in top Southeast markets. Combined, North and South Carolina rank as the 3^rd largest US region by population with one of the highest growth rates in the country. The Carolinas are particularly notable for their influx of high-income residents, with the number of millionaire tax filers rising an estimated 60% since 2015, driving strong growth in the sale of luxury goods, particularly vehicles.

“Luxury franchises remain among the most in-demand franchises in the buy/sell market, driven by their scarcity, exceptional brand strength and consistent performance,” said Gabe Robleto of Kerrigan Advisors. “Markets like Charlotte and Greensboro, where buyer demand far outstrips supply of available dealerships, command the highest attention from the most sophisticated acquirers in the industry. Foreign Cars Italia distinguished itself within this competitive landscape with its long legacy of exceptional service to the North Carolina luxury community. We are honored that Kerrigan Advisors had the opportunity to represent Paramount Automotive in this landmark transaction, bringing our top luxury sale count to over 80 franchises in the last 12 years – a testament to the trust luxury dealers place in our firm and the success of our professionally managed and confidential sell-side process. Thank you to Benny Yount and Nick Kincaid for this opportunity, and congratulations.”

Legal counsel for Paramount Automotive was Stephen Dietrich of Holland & Knight, and legal counsel for Hendrick Automotive Group was Brian Nolen and Eric Anderson of Nolen PLLC.

About Kerrigan Advisors

Kerrigan Advisors is the leading sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of 450 franchises generating more than $10 billion in client proceeds, including two of the largest transactions in auto retail history – the sale of Jim Koons Automotive Companies to Asbury and Leith Automotive to Holman. The firm advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, accounting, finance and real estate, Kerrigan Advisors is the only firm in auto retail exclusively dedicated to sell-side advisory, providing its clients with the assurance of a conflict-free approach.

Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, which includes Kerrigan Advisors’ signature blue sky charts, multiples, and analysis for each franchise in the luxury and non-luxury segments. To download a preview of the report, click here. The firm also releases monthly The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To read the 2025 Kerrigan Dealer Survey, click here. To read the 2025 Kerrigan OEM Survey, click here. Kerrigan Advisors is also the co-author of NADA’s Guide to Buying and Selling a Dealership. Additionally, Kerrigan Advisors publishes a podcast, Beyond Blue Sky – A Kerrigan Conversation, where Kerrigan Advisors’ clients and industry leaders share the mindset, strategy and personal stories behind a once-in-a-generation transaction.