AUTONATION BUYS 2nd BMW STORE

New- and used-car retailer AutoNation Inc. is purchasing Claridge BMW in Fremont, CA. Parties are mum on terms of the all-cash deal.

The store had 2001 revenue of $63 million. Owner Tom Claridge will not stay on at the dealership. A letter of intent has been signed.

This will be AutoNation's second BMW franchise and its 20th new vehicle franchise in the San Francisco Bay area.

AutoNation CEO Michael Jackson is the former president of BMW's rival German luxury car importer, Mercedes-Benz USA.