logo_sm.gif (4042 bytes)
Your Source for Up-To-Date News and Research on the Collision Repair Industry 

 
Subscribe to INSIGHT Editor's Desk News Alerts
click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email


lftspace.GIF (57 bytes)
SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor
Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide
Management/
Technical Info

Market Watch Rates
INSIGHT Inside this month's issue...
Feedback
Letter to the Editor
cntspace.GIF (53 bytes)
Wednesday August 25

AutoNation Acquires Borton Volvo and Borton Volkswagen

AutoNation, Inc. has signed an agreement to acquire Borton Volvo and Borton Volkswagen from owner Loren Sheffer. The dealerships are located in Delray Beach, Florida.

The acquisition is expected to close in the fourth quarter, after which the dealerships will operate as Maroone Volvo and Maroone Volkswagen. This will bring to 31 the total number of dealerships owned and operated by AutoNation under the Maroone brand, and they will represent the first Volvo and Volkswagen dealerships in the Maroone family of locations.

Terms of the all-cash asset transaction, which is subject to customary conditions and approvals, were not disclosed. AutoNation estimates that the combined annual revenues from the two dealerships will total approximately $63 million.

"Borton Volvo and Borton Volkswagen will be exciting additions to our family of Maroone dealerships in South Florida," said Michael E. Maroone, AutoNation's president and chief operating officer. "We're extremely proud that these two great brands will be joining our lineup, and these acquisitions show just how committed we are to offering the most satisfying selection of vehicles in the industry. In fact, it's this commitment to customer satisfaction that has driven -- and will continue to drive -- our success here in South Florida and across the country."

Maroone now offers 15 brands of vehicle at locations from Miami to West Palm Beach.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer. Ranked No. 97 on the 2004 Fortune 500 and a component of the Standard and Poor's 500 Index, AutoNation employs approximately 28,000 people and owns and operates 365 new vehicle franchises in 18 states.

©2004 Collision Repair Industry INSIGHT
All Rights Reserved

FEATURED
LINKS:

PPG Automotive Refinish

Akzo Nobel

Sherwin-Williams Automotive Finishes

DuPont Automotive Refinish

Spies-Hecker Automotive Refinish

National Auto Body Council
INSIGHT Supports the NABC!
Do You?