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.
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