AutoNation, Inc. (NYSE:AN) completed the acquisition of Priority 1 Automotive Group, Inc.
November 07, 2021
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AutoNation, Inc. (NYSE:AN) entered into an agreement to acquire Priority 1 Automotive Group, Inc. from Cohen family in late July 2021. The transaction is subject to customary terms and conditions, including manufacturer approval. The transaction is expected to close in the fourth quarter of 2021.
AutoNation, Inc. (NYSE:AN) completed the acquisition of Priority 1 Automotive Group, Inc. from Cohen family on November 8, 2021. After the sale, the Cohen family will continue to operate a leasing business and used car operation. Stephen Dietrich of Holland & Knight and Freddie J. Traub of Friedman & Friedman, LLP served as legal counsel to Priority 1 Automotive Group. Ryan Kerrigan and Erin Kerrigan of Kerrigan Advisors acted as financial advisor to Priority 1 Automotive.
AutoNation, Inc., through its subsidiaries, is an automotive retailer in the United States. The Company operates through three segments: Domestic, Import and Premium Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford, and Stellantis. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Its Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Audi, Lexus, Jaguar, Bentley, and Land Rover. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products. It owns and operates approximately 349 new vehicle franchises from 252 stores located in the United States, primarily in metropolitan markets in the Sunbelt region.
AUTONATION, INC. 
