Aug. 19, 2015—On Tuesday, Auto Nation Inc. announced its agreement to acquire 13 stores in Georgia, Alabama and Tennessee from Carl Gregory Enterprises, and three stores in the Baltimore market from Valley Motors Auto Group.
The acquisitions represent over $600 million in combined annual revenue.
The franchises to be acquired in the Southeast include Chrysler, Dodge, Jeep, Ram, Fiat, Ford, Lincoln, Honda, Hyundai and Volkswagen.
Once these transactions are completed, AutoNation’s total franchise count will be 327 franchises, an increase of 34 franchises.
These transaction are subjected to customary terms and conditions and are expected to close later this year.
"We are pleased to have the opportunity to add 13 stores in Georgia, Alabama and Tennessee and 3 stores in the Baltimore, MD / Washington, D.C. market and bring AutoNation's store count to 253 from Coast to Coast,” said Mike Jackson, AutoNation’s chairman, CEO and president. "We continue to seek acquisitions to leverage our scale, expand the AutoNation brand and provide a peerless experience to more customers."