M&A
confidence high
sentiment positive
materiality 0.85
Sonic Automotive completes $950M acquisition of RFJ Auto Partners; adds 33 locations
SONIC AUTOMOTIVE INC
- Total consideration ~$950.2M; $222.4M funded from floor plan credit facilities.
- Acquires 33 locations across 7 states and 16 auto brands; adds 6 new states to Sonic's footprint.
- Expected to add $3.2B in annualized revenues, targeting top-five U.S. dealer group by revenue.
- Includes Dave Smith Motors, highest volume Chrysler Dodge Jeep RAM dealer globally.
- CEO David Smith and President Jeff Dyke highlight cultural fit and growth acceleration.