AutoNation has acquired luxury dealership group Barrier Motors in Bellevue, Wash., which includes Mercedes-Benz of Bellevue, Barrier Audi, Barrier Porsche and Barrier Volvo.
The annual revenue of Barrier Motors is approximately $355 million with 5,500 new and used vehicles sold annually. With Barrier Motors, AutoNation will own and operate 22 franchises in the state of Washington, 13 of which are in the Seattle-Bellevue market.
"The acquisition will greatly enhance our brand mix in Seattle-Bellevue, positioning us with outstanding premium luxury offerings in the market where we already represent BMW," said Mike Jackson, CEO of AutoNation. "The Barrier stores have a great reputation in the market."
The deal is subject to customary terms and conditions including manufacturer approval and is expected to be completed in the fourth quarter of this year.