Nashville-based Beaman Automotive Group closed its sale to Hudson Automotive Group in November, marking the end of an era for the company that called Nashville home since the early 1950s.
With the sale complete, South Carolina-based Hudson Automotive Group’s southeastern automotive empire now includes seven dealerships in the greater Nashville area and 20 total dealerships in Tennessee.
The companies first announced the deal in July and finalized the sale on Nov. 2 for an undisclosed price.
The sale included Beaman’s two Nashville dealerships on Broadway near downtown and Beaman’s dealerships and real estate at its Murfreesboro and Dickson locations, according to Hudson Automotive Group CEO David Hudson. Hudson Automotive Group will lease the property located on Broadway in Nashville, which was not included in the purchase.
The transaction also included Beaman’s parts warehouse and automotive collision center, ranked the largest in the state.
Beaman Automotive Group reported annual revenues of $414.1 million in 2019, not including the value of the inventory, land and other assets purchased by Hudson Automotive Group in the deal.
Founded in 1948 in Providence, Kentucky, Hudson Automotive Group now operates locations across seven states – Tennessee, Kentucky, Ohio, Georgia, Louisiana, North Carolina and South Carolina. The company employed more than 1,500 people before the purchase and will continue to employ more than 98% of the 450 Beaman Automotive Group employees.
Hudson intends to continue running the newly acquired properties under the successful Beaman brand.
“When a brand is already trusted in the community, there is little reason to change it,” he said in a news release.
Hudson Automotive Group COO T.C. Staton and CFO Craig Siebel will remain based in Charleston.
The strong relationship of more than a decade between the two companies grew after Hudson met Beaman Automotive Group COO Doug Mclannahan. The pair “had a good mutual and professional respect for one another,” Hudson said.
Beaman Automotive Group CEO Lee Beaman said in July that he felt he could trust only one family and business with the legacy of the company his father built, and that was Hudson Automotive Group.
“Their commitment to doing right by their employees and their customers is unparalleled, and I am excited for the future of continuing the rich tradition of Beaman Automotive through Hudson’s care and commitment to our industry,” Beaman said in a statement.
Alvin G. Beaman founded the business in 1945 with a Chrysler dealership and expanded in the early 1950s with a Pontiac dealership at the group’s locations on McGavock and Broadway, which remain prominent in Midtown today. At the time of the sale, Beaman Automotive Group held dealership agreements with Toyota, Buick/GMC, Ford, and Dodge/Chrysler/Jeep/Ram.
David Hudson’s grandfather, George “Hoolie” Hudson, founded Hudson Automotive three years after Beaman Automotive Group entered the automotive market. The brand began its expansion across the Southeast in 1997, and has purchased 31 dealerships to date – 12 of which it acquired in 2020.
Hudson said his company’s family values and operating style closely mirror Beaman’s, and he plans to continue to focus on employee and customer satisfaction.
“Our job now is to be good stewards and maintain an already successful and well-run dealership,” Hudson said.
Cassandra Stephenson covers business at The Tennessean, part of the USA Today Network — Tennessee. Reach Cassandra at email@example.com or at (731) 694-7261. Follow Cassandra on Twitter at @CStephenson731.