Automotive retailer AutoNation, Inc. signed agreements to acquire four stores, including five franchises, in Westchester County.
The company will acquire 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.
Collectively, the acquisitions represent roughly $190 million in annual revenue and 2,600 new and used vehicle annual unit sales.
The acquisitions are expected to close in the third quarter of 2016.
AutoNation plans to renovate the BMW facilities in Mount Kisco, along with relocating the Land Rover franchise in Mount Kisco and combining it with Jaguar in a new retail facility. AutoNation will also renovate and expand its Jaguar Land Rover facilities in New Rochelle and construct a new Jaguar Land Rover store in the White Plains area.
Once the facilities in White Plains and Mount Kisco are completed, AutoNation will be awarded a Land Rover franchise in White Plains and a Jaguar franchise in Mount Kisco. Those facilities, once fully operational, are expected to generate around $100 million in annual revenue.