Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade SAH now with 

Automotive retailer Sonic Automotive, Inc. (SAH: Quote) 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.

Click here to receive FREE breaking news email alerts for Sonic Automotive Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks have fluctuated over the course of the trading day on Thursday, as traders continue to digest yesterday's monetary policy announcement from the Federal Reserve as well as better than expected third quarter GDP data. Hundreds of protesters stormed Burkina Faso's parliament on Thursday and set fire to the building, preventing the lawmakers from considering a bill to extend the president's 27-year rule. Security forces opened fire on protesters, as they looted computers and televisions in the National Assembly, news agencies reported. The angry crowd then marched towards the President's office, before they were U.S. economic activity increased by more than expected in the third quarter of 2014, according to a report released by the Commerce Department on Thursday. The Commerce Department said GDP increased by 3.5 percent in the third quarter compared to 3.0 percent growth expected by economists.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.