Sonic Closes Acquisition of RFL Partners

By Staff Writer December 08, 2021

Sonic Automotive, one of the nation’s largest automotive retailers, has acquired RFJ Auto Partners, pursuant to an agreement entered on Sept. 17, 2021. This acquisition represents one of the largest transactions in automotive retail history and is expected to propel Sonic Automotive into the top-five largest dealer groups in the U.S. as measured by total revenues.

With 33 locations in seven states and a portfolio of 16 automotive brands, the transaction adds six incremental states to Sonic’s geographic coverage and five additional brands to its portfolio, including the highest volume Chrysler Dodge Jeep RAM dealer in the world in Dave Smith Motors. In addition to further expanding and diversifying Sonic’s business, the transaction is expected to add $3.2 billion in annualized revenues, which are incremental to the company’s previously stated target of $25 billion in total revenues by 2025.

David Smith, chief executive officer of Sonic Automotive and EchoPark Automotive, said, “We are thrilled to welcome Rick Ford and the entire RFJ Auto team into the Sonic family.

“Our teams share a common culture and vision, continuously striving to deliver a best-in-class guest experience and a commitment to teammate growth and development. We look forward to capitalizing on our complementary strengths and values as we grow the combined business and expand our nationwide reach.”

Rate this item
(0 votes)
Last modified on Monday, 13 December 2021 14:35