Kelley Blue Book Is For Sale, Reports Say
Kelley Blue Book, the California-based authority on used-car values, is up for sale, according to published reports.
According to a Financial Times report cited by a New York Times blog yesterday, two unidentified bankers claim to have an inside scoop on the potential sale. One banker says JPMorgan was hired to manage the sale. The other says Kelley Blue Book is valued at between $500 million and $1 billion.
Although the first edition of the Kelley Blue Book was published in 1926, founder Les Kelley had been producing a list of automobile values since 1918.
The Kelley family sold it to Charlie Cook, a family friend, in the1960s. A Kelley family member managed it through 2000, when Paul Johnson was named president. Charlie Cook died in the 1990s.
The Blue Book, initially published for auto dealers, launched a consumer edition in 1993 and its Web site kbb.com in 1995. The Financial Times said a third banker speculated that a recent lack of traffic to the company's Web site and a rise in capital gains taxes may have played a part in the decision to sell the privately held company.
Kelley's top potential bidders, according to the reports, are AutoTrader.com, Kohlberg Kravitz Roberts & Co., eBay and Google.
Kelley Blue Book spokeswoman Robyn Eckard declined to comment, as did JPMorgan.
More Industry

Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →