Sonic Automotive to acquire RFJ Auto Partners from The Jordan Company for $700m.

Sonic Automotive, one of the US' largest automotive retailers, agreed to acquire RFJ Auto Partners, an automotive dealership platform, from The Jordan Company, a private equity firm, for $700m. "We are very excited to welcome the RFJ Auto team to the Sonic family as we continue to expand our nationwide network. RFJ Auto’s management team – many of whom are former members of the Sonic family and have deep familiarity with our guest-centric mindset and innovative sales model – and the nearly 1.7k RFJ Auto teammates are an excellent fit with the culture and growth strategy of our franchised dealership business. As such, we anticipate seamless integration and expect to capture meaningful synergies from ‘day one,’ creating significant long-term value for our shareholders," David Smith, Sonic Automotive CEO.