LMP signs deal to buy majority share of 2 New York stores
Wednesday, Mar. 31, 2021, 03:23 PM
By Auto Remarketing Staff
FORT LAUDERDALE, Fla. -
In its second acquisition-related move in less than a week, LMP Automotive Holdings said Tuesday it signed a definitive agreement to purchase 85% of both Central Avenue Chrysler Jeep and Chrysler Jeep of White Plains.
Both stores are located in the New York metro area: the former is located in Yonkers, N.Y.; the latter in White Plains, N.Y.
LMP anticipates the deal to close in June. The dealerships are expected to add annualized revenues of about $270 million and bump LMP’s respective total contracted and closed franchise and dealership count to 18 and 17, the retailer said.