Terms of the deal were not disclosed. The dealerships will be rebranded as Walker Toyota/Scion and Walker Chrysler Dodge Jeep Ram. Officials with Walker said the deal was signed Tuesday after four months of working on the details.
Matt McKay, president of All Star Automotive, said he decided to sell the dealerships in order to better focus on the Baton Rouge market.
“We’ve been up there 23 years, but we had an opportunity to do some estate planning,” McKay said. “And the timing was right.”
Plans are for all of the All Star employees in Alexandria to get jobs with Walker Automotive. “We’re excited for the Walker family to come in,” McKay said. “And we’re glad after being in business so many years, all of our employees are staying in place.”
Walker has been in business for 95 years. The business was founded by Foster Walker Sr. as the Alexandria Auto Co. It is now headed by W. Foster Walker III. The acquisition will give Walker seven locations in Alexandria, including a used-car lot.
Despite the sale, All Star isn’t dropping any vehicle lines. The company has a Toyota/Scion dealership on Airline Highway in Baton Rouge and a Chrysler Dodge Jeep Ram dealership in Denham Springs.