CHICAGO, May 19 (Reuters) - UnitedAuto Group Inc. , which operates car dealerships, on Wednesday said it has agreed to acquire four Honda franchises and two Acura franchises in the San Francisco Bay area from Ted Stevens Automotive Network.
UnitedAuto, based in Bloomfield Hills, Michigan, said the franchises have annual revenue of about $300 million. The deal is expected to close in the third quarter and would give the retailer a foothold in the Northern California market.
UnitedAuto has 12 franchises in Southern California. It runs 136 franchises in the United States and 84 internationally, mainly in Britain.