The Larry H. Miller Automotive Division said this week it will change its business relationship with Karl Malone in three dealerships.
LHM Auto is buying Malone's interest in Karl Malone Toyota in Albuquerque, N.M., and Stockton to Malone Honda in Sandy.
Malone, owner of Karl Malone Toyota in Draper, and his business partner, Andy Madsen, will purchase the land and building at the Draper site, as well as undeveloped land south of that Toyota store. They will assume exclusive management of the dealership, pending factory approval.
In a prepared statement, Malone said he will build an additional dealership on the undeveloped land.
Madsen has been general manager of both Utah dealerships and has run 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.