AutoNation agrees acquisition of Valley Honda and Valley Acura dealerships in Spokane
Oct 29, 2009 (M2 EQUITYBITES via COMTEX) --
Company: AutoNation, Inc. (AN)
Automotive retail group AutoNation Inc (NYSE:AN) has entered into agreements to acquire Valley Honda and Valley Acura dealerships in Spokane, Washington, the company revealed on Tuesday.
Financial terms of the deal with the current owners, Ray Kish and Rick Rielly, were not disclosed.
The two stores generated combined sales of approximately USD38m in fiscal 2008. When the transaction is completed, which is expected by the end of 2009, the stores will be renamed AppleWay Honda and AppleWay Acura.
The purchase remains subject to customary terms and conditions, including manufacturer approval.
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Company: AutoNation, Inc. (AN)
Related terms: acquisition, automotive, manufacturer, nyse, retail, sales, washington
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