Business Services Industry
Charlotte, N.C.-Based Car Chain Purchases 12 Houston-Area Dealerships.
Knight Ridder/Tribune Business News, August, 2003
By Bill Hensel Jr., Houston Chronicle Knight Ridder/Tribune Business News
Aug. 22--Sonic Automotive has ac...uired 12 Houston-area Momentum and Advantage automobile dealerships as part of an 18-dealership deal expanding its luxury-car business.
The ac...uisitions are Momentum BMW, Momentum Mini, Momentum Jaguar, Volvo and Porsche, Momentum Land Rover, Momentum Audi, Momentum Volkswagen, Advantage Volkswagen, Advantage Audi, Advantage Porsche, Advantage BMW, Advantage Nissan and Clear Lake Volkswagen.
The Houston-area dealerships "provide a platform of luxury-branded dealerships" in one of Sonic's largest markets, the company said.
Financial terms of the deals were not disclosed.
Historically, Sonic primarily has sold...
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