Sonic Automotive announced late last week an upcoming expansion in its network of stores. The retailer has entered a deal to purchase two franchises from Denver-based Murray Motor Imports Co.

With the eventual purchase of Murray BMW of Denver and Mercedes-Benz of Denver, Sonic will have four stores in the Denver market. It already owns Mountain States Toyota and Lone Tree Cadillac in Denver.

The retailer estimates the acquisition of the two Murray stores will add about $200 million in revenue in just the first year under Sonic operation.  

The acquisition is projected to be done by the end of July; officials noted that closing of the pending transaction is subject to normal closing conditions, including manufacturers' approval.  

Sonic president Scott Smith said: “The Denver market and Front Range are areas where we are looking to expand our operations.  Our company's vision and culture are very much aligned with the communities and families that we serve throughout the region.”

Jeff Dyke, Sonic’s executive vice president of operations, added: “The Denver market is a fantastic market with both New and Pre Owned growth potential.”  

Dyke continued: “We are very pleased to be purchasing such a fine organization from the Murray Family and look forward to continuing the growth of both BMW and Mercedes-Benz in the Denver market.”

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