AutoNation, Inc. (AN), an automotive retailer, announced Thursday agreement to acquire Priority 1 Automotive Group, representing approximately $420 million in annual revenue.
The transaction is subject to customary terms and conditions, including manufacturer approval. The deal is expected to close in the fourth quarter of 2021.
During 2021, AutoNation has announced acquisitions representing in the aggregate $800 million in annual revenue, together with the previously announced acquisition of Peacock Automotive Group.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.