AutoNation to Acquire Barrier Motors Premium Luxury Group
AutoNation, Inc. (NYSE: AN), America’s largest automotive retailer, announced that it has signed agreements to acquire Audi, Mercedes-Benz, Porsche and Volvo stores in the Seattle-Bellevue market from Barrier Motors.
The annual revenue for these stores is approximately $355 million, with retail sales of approximately 5,500 new and used vehicle units.
Upon completion of the transaction, AutoNation will own and operate 22 franchises in the state of Washington, including 13 franchises in the Seattle-Bellevue market.
The transactions are subject to customary terms and conditions, including manufacturer approval, and are expected to close in the fourth quarter 2014.
AutoNation owns and operates 274 new vehicle franchises, which sell 34 new vehicle brands across 15 states.
More info at Audi Bellevue.
Category: Featured, General Update
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