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AutoNation to Buy Allen Samuels Group | DrivingSales News

AutoNation To Buy Allen Samuels Group, Add $736 Million In Revenue

October 26, 2015 0 Comments

Is the largest auto group in the country about to get even bigger? Reports indicate AutoNation is at it again, making another headline-grabbing purchase.

AutoNation is poised to buy the Allen Samuels Auto group out of Waco, Texas. While AutoNation buying up stores is nothing new, Allen Samuels is a very large acquisition. The Texas-based group was ranked number 79 on the Automotive News list of the top 150 dealer groups in the USA. Automotive News also reported annual revenue at the Allen Samuels Group to be $736 million.

Ted Teague, GM of Allen Samuels Dodge Jeep Chrysler Ram, confirmed the purchase to the Waco Tribune. Speaking to the Tribune, Teague said, “It is my understanding it has been announced to employees of the dealerships involved.”

The amount of stores that will be part of the AutoNation purchase is not currently known. Allen Samuels group stores in Tyler, Houston, Forth Worth, Katy, Waco and Corpus Christi, Texas could all be part of the acquisition. The Waco-based group is expected to keep two stores in Waco, one in Aransas Pass and another in Oxford, Mississippi.

This purchase by AutoNation is the latest in a string of moves that have significantly increased their revenue. In August of this year, AutoNation acquired 13 dealerships from Carl Gregory enterprises in Georgia, Alabama and Tennessee, as well as 3 dealerships from Valley Motors in the Baltimore, Maryland area. Those 16 stores added a combined $600 million in revenue to AutoNation.

Do you see another group catching up to AutoNation by purchasing other groups? How much will the largest dealer groups in the country compress due to acquisitions within the next decade?

About the Author:

The DrivingSales News team is dedicated to breaking the relevant and the tough stories affecting car dealers. Have questions for DrivingSales News? Reach the team at news@drivingsales.com.

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