Branson/Tri-Lakes News: Tri-Lakes Motors sells to Arkansas group

Robert L. Johnson, founder of RLJ Cos., joined McLarty-Landers to form a holding company in July 2007, said Franklin McLarty, vice president of RLJ-McLarty-Landers. Among his many enterprises, black billionaire businessman Johnson is majority owner of the NBA’s Charlotte Bobcats and founder of Black Entertainment Television.

“Bob (Johnson) is a true business visionary and a world-class entrepreneur,” McLarty said. “He has always added value to (his) businesses.”

Johnson’s role will be that of an investor with 60 percent ownership in the automotive partnership. The day-to-day operations and the remainder of the partnership is held by McLarty-Landers Automotive, which was formed in 2004 by McLarty’s father, Thomas “Mack” McLarty III and Steve Landers Sr., both longtime auto dealers with deep roots in Arkansas. Born in Hope, Ark., Mack McLarty also served as White House chief of staff for President Bill Clinton.

Tri-Lakes Motors is one of 15 dealerships in the RLJ-McLarty-Landers portfolio covering Arkansas, Kansas, Missouri, Louisiana, Alabama and Tennessee. Franklin McLarty said the company’s plan is to grow steadily in the Midwest, Southwest and Southeast. Annual revenues for the automotive partnership are projected to be about $500 million in 2008, McLarty said, noting that the partnership’s annual goal is to exceed $1 billion within five years.

RLJ-McLarty-Landers purchased Tri-Lakes Motors from Don Long, of Branson. Long bought the dealership in 1993 as a partner with Larry Duncan. Duncan sold his part of the business to Roger Bunger in 2001.

When RLJ-McLarty-Landers purchased the Branson dealership, it offered Bunger a partnership. Bunger said his share in the dealership is now larger, but he would not disclose the percentage. As an employee with Tri-Lakes Motors for 15 years, Bunger will continue to serve as managing partner, McLarty said.

Bunger said the new ownership offers his customers more availability. Locally, the dealership carries Ford, Mercury, Dodge, Chrysler and Jeep brands. Sales associate Gordon Cupps, who’s worked for Tri-Lakes Motors for nearly 25 years, said direct access to a network of 14 other dealerships is a plus.

“Now we have some 1,800 to 2,500 used vehicles we can shop from (on the Internet),” Cupps said, noting that the additional availability includes Nissan, Toyota and Subaru models.

Bunger said the Branson dealership employs 11 sales associates and 40 service and body shop workers.

McLarty said his company selected Tri-Lakes Motors for the dealership’s business stability and its teamwork.

“Branson is one of the most unique and interesting markets in the U.S.,” he said. “We were attracted to the demographics and growth.”[[In-content Ad]]