logo
Share SHARE
FONT-SIZE Plus   Neg

Sonic Automotive To Buy Two Franchises From Murray Motor Imports - Quick Facts

Automotive retailer Sonic Automotive, Inc. (SAH) Friday said it has entered into an agreement to purchase two franchises, Murray BMW of Denver and Mercedes-Benz of Denver, from Murray Motor Imports Co. of Denver, Colorado. The purchase is expected to be completed by the end of July.

The franchises are expected to add about $200 million in revenue during Sonic Automotive's first year of operation.

Sonic Automotive currently operates Mountain States Toyota and Lone Tree Cadillac in Denver, bringing its total dealership count in the market to four. Sonic, through this purchase expects to further leverage its existing management infrastructure in the region.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Red-hot Las Vegas beat other big cities to become the best and most budget-friendly summer travel destination this year, according to financial website WalletHub. WalletHub's Shares of Allergan plc rose in early trades Tuesday after billionaire investor Carl Icahn said he recently acquired a "large position" in the Botox maker and was very supportive of CEO Brent Saunders. Icahn did not disclose details of the stake he acquired in Allergan. Shares of Volkswagen AG declined around 3 percent in the morning trading, after the German automotive giant reported Tuesday lower profit and revenues in its first quarter, mainly reflecting weak passenger car volumes and negative currency impacts. Further, the company reiterated its outlook for fiscal 2016, expecting a decline in revenues.
comments powered by Disqus
Follow RTT