AutoNation buys 12 Texas stores in biggest purchase since 1999
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AutoNation Inc. has decided to to get 12 shops from the Allen Samuels Auto Group, offering the greatest U.S. new-car retailer more pull in Tx.
The shops represent roughly $800 million in sales and promote about 19,500 new and used retail units a year. Provisions of the acquisition are not contained in a AutoNation statement declaring the offer.
AutoNation, of Fort Lauderdale, Fla., stated it was its largest single car dealer acquisition since 1999.
Following the obtain closes, Tx will represent of a quarter of AutoNation's sales but nevertheless will trail Fl, the retail merchant's No. 1 marketplace.
Because the start of 2015, AutoNation has declared acquisitions with about $1.7 billion in yearly sales, bringing the firm to 265 shops and 372 franchises. Shops selling Fiat Chrysler Cars brands have accounted for about $1-billion of that income.
Stephens Inc. guided the vendor.
It's possible for you to reach James B. Treece at [email protected].
Tags:
Dealers
Purchase/Sell
Amalgamations - Acquisitions - Takeovers
Mike Jackson
Fiat Chrysler Automobiles
AutoNation
Florida
Texas
Marketing
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