AutoNation To Buy BMW, Land Rover, Jaguar Stores In Westchester County, New York

(RTTNews) - AutoNation, Inc. (AN), an automotive retailer, announced Thursday that it has signed agreements to acquire four stores, including five franchises, in the Westchester County, New York area.

The stores to be acquired are BMW Mt. Kisco, Land Rover Mt. Kisco and Jaguar Land Rover Larchmont/New Rochelle from The Premier Collection and White Plains Jaguar from DiSimone Imports. These stores collectively represents approximately $190 million in annual revenue and 2,600 retail new and used vehicle annual unit sales.

The acquisitions are subject to customary terms and conditions, including manufacturer approvals, and are expected to close in the third quarter of 2016.

AutoNation said it will renovate the BMW facilities in Mt. Kisco, while construct a new state-of-the-art Jaguar Land Rover store in the White Plains area. In Mt. Kisco, AutoNation will relocate the Land Rover franchise and combine it with Jaguar in a new state-of-the-art auto retail facility.

The company will also renovate and expand its Jaguar Land Rover facilities in Larchmont/New Rochelle.

Upon completion of the above-mentioned facilities in White Plains and Mt. Kisco, AutoNation will be awarded a Land Rover franchise in White Plains and Jaguar franchise in Mt. Kisco. These new Jaguar Land Rover facilities in White Plains and Mt. Kisco are expected to generate approximately $100 million in additional annual revenue once fully operational.