Sonic Automotive to Purchase 5 More Car Dealerships
- Share via
Rapidly expanding Sonic Automotive Inc. said that it will acquire four new-car dealerships in Carson and a fifth in the Dallas area as it pursues growth in its largest markets.
The agreement to purchase four Don Kott dealerships--with Ford, Lincoln Mercury, Chrysler, Jeep, Mazda, Isuzu and Kia franchises--will give Charlotte, N.C.-based Sonic 34 California dealerships, including 11 in Los Angeles and Orange counties.
Sonic is the nation’s second-largest publicly traded new-car dealership chain, with 156 franchises in 13 states.
The company declined to disclose what it will pay for its latest acquisitions. The five dealerships have combined annual sales of $260 million.
Sonic shares rose 79 cents to close at $20.04 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
