SALT LAKE CITY (February 9, 2010) – The Larry H. Miller Automotive Division (LHM Auto) and Karl Malone are transitioning their business relationship in three dealerships announced Greg Miller, CEO of the Larry H. Miller Group of Companies and Karl Malone, owner of Karl Malone Toyota in Draper, Utah. LHM Auto is purchasing Karl Malone’s interest in Karl Malone Toyota in Albuquerque, New Mexico and Stockton to Malone Honda in Sandy, Utah. Karl and his partner, Andy Madsen, are purchasing the land and building, as well as undeveloped land south of the Toyota store in Draper, and will assume exclusive management of said store. The first two transactions mentioned are subject to factory approval.
“Our relationship with Karl and Andy (Madsen) has always been a good one,” said Greg Miller. “Karl’s value to our organization over the years cannot be overstated and I have personally learned a great deal about automotive management from Andy in all the years that I have worked with him in the car business. I hope the relationship between the Miller family and Karl and Andy remains strong going forward. I wish them both nothing but the best in everything they do.” (Madsen is general manager of both Utah dealerships mentioned and runs the stores on a day-to-day basis. He will now solely focus on Karl Malone Toyota in Draper as co-owner and general manager.)
“Larry, Gail, Greg and the entire Miller family have been an important part of my career both on and off the basketball court,” said Malone. Having been able to continue to work with them since my retirement from basketball has been a wonderful experience for me. I am at the point where I would like to take primary responsibility for my Toyota store in Draper and expand my business dealings in Utah by building an additional Karl Malone dealership on the new parcel of land south of my current location. My fans have been very supportive of me and I would like to return that support by being more involved in the Utah community.”
Linda Luchetti, SVP Communications, LHM Group of Companies, (801) 325-2570; email@example.com