AutoNation to Acquire John Roberts BMW and MINI Franchise in Dallas-Fort Worth, Texas
AutoNation, Inc., an automotive retailer, announced that it has signed an agreement to acquire John Roberts BMW and MINI, the largest BMW and MINI dealership in the Dallas-Fort Worth market. Once closed, the acquisition of John Roberts BMW and MINI will bring the total number of new vehicle franchises owned and operated by AutoNation in Texas to 66, with 22 franchises in the Dallas-Fort Worth Metroplex.The acquisition, which is subject to customary conditions and approvals, is structured as an all-cash asset purchase. Closing is anticipated for the second quarter of 2004. The dealership is located on approximately 10 acres and has 52 service bays to service customers in the Dallas-Fort Worth area. John Roberts BMW and MINI is the second-largest BMW and MINI dealership in Texas and ranked in the top 20 BMW and MINI dealerships in the United States for new unit sales in 2003. AutoNation offers customers in Texas a selection of new vehicles from Acura, BMW and MINI, Buick, Cadillac, Chevrolet, Chrysler-Jeep, Dodge, Ford, Honda, Lincoln Mercury, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Pontiac, GMC, and Toyota, as well as used vehicles, parts and service, and finance and insurance products.