Premier Automotive, partners acquire 4 Ford and Chevy dealerships

Premier Automotive of New Orleans entered two states in separate first-quarter transactions that combined added four stores to the auto retailer's portfolio.

Premier on Feb. 22 purchased Freedom Ford of Claypool Hill in Pounding Mill, Freedom Ford of Wise and Freedom Chevrolet of Big Stone Gap, all in Virginia. The names remain the same for the Ford dealerships, while the Chevrolet store's name shortens to Freedom Chevrolet.

A week later, on March 1, Premier acquired Charlie Henderson Ford in Waveland, Miss., from the Henderson family.

Charlie Henderson was a single-store Ford owner for 50 years, with his son, Joe Henderson, most recently running it, Premier owner Troy Duhon said.

Both transactions included partnerships that Duhon said align with his philosophy of helping others.

"It's more about making dreams come true for others than me growing for me," Duhon told Automotive News. "I'm past that."

Anthony Legeaux has worked for Premier for 25 years, Duhon said. He's now the dealer operator and majority owner of the Mississippi store, renamed Premier Ford.

Duhon said he worked with Ford on the acquisition through an automaker program that helps minority candidates become owners. Ford funded most of the transaction via a loan to Legeaux, Duhon said. Premier acquired a 49 percent stake in the store, while Legeaux's ownership stake is 51 percent, Duhon said.

For the Virginia dealerships, Duhon said he is the majority owner, with Tim Barnett as a minority partner. Premier did not disclose ownership percentages for those dealerships.

That sale transpired when Barnett, a dealer formerly operating in Atlanta, met Wendell Barnette, who owned the Virginia stores.

After Barnette's grandson, the intended heir to the dealerships, died, Barnette said he wanted to sell. A mutual friend connected Duhon and Barnett.

"We were looking to get out of the rat race of the big metro and go to a smaller community where we could, you know, have more of an impact, helping people in the community that need help, which is what Troy is known for doing," Barnett told Automotive News.

Duhon credits his late father, Corbett Duhon, an automotive dealer turned preacher, with inspiring him to always give back.

Among philanthropic efforts that include building orphanages, Duhon and his wife, Tracy, founded the nonprofit Giving Hope following Hurricane Katrina's devastation.

During the coronavirus pandemic, Giving Hope distributed food in New Orleans. Duhon said the group also operates food banks in California, Hawaii and coming soon, in St. Louis. "We feed about 5,000 to 6,000 people a day," Duhon said.

In addition to the Virginia and Mississippi stores, Premier added nine franchised stores since July 2020, Duhon said. The group owns stores in seven states, including Louisiana, California, Texas, Missouri and Kansas.

Premier Automotive ranks No. 46 on Automotive News' most recent list of the top 150 dealership groups in the U.S., retailing 20,325 new vehicles in 2021.