BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Sept. 1, 2006--United
Auto Group, Inc. (NYSE:UAG), an international automotive retailer,
today announced it has acquired nine locations and 22 franchises in
the United Kingdom. The acquired franchises represent a combination of
premium brands including BMW, MINI, Mercedes-Benz and smart along with
two Chrysler Jeep Dodge dealerships.
UAG Chairman Roger Penske said, "We are delighted to expand our
presence in the United Kingdom with these outstanding brands. The
franchises we acquired have established an outstanding reputation
based on commitment to their customers and employees and will
complement our existing operations."
The franchises acquired are expected to contribute approximately
$700 million in revenue on an annualized basis. The acquisition was
financed using the Company's UK-based credit facility.
United Auto Group, Inc., headquartered in Bloomfield Hills,
Michigan, operates 321 retail automotive franchises, representing 40
different brands, and 27 collision repair centers. UnitedAuto, which
sells new and previously owned vehicles, finance and insurance
products and replacement parts, and offers maintenance and repair
services on all brands it represents, has 174 franchises in 20 states
and Puerto Rico and 147 franchises located outside the United States,
primarily in the United Kingdom. UnitedAuto is a member of the Fortune
500 and Russell 1000 and has over 15,000 employees.
Statements in this press release involve forward-looking
statements, including forward-looking statements regarding
UnitedAuto's expected sales and results of operations. Actual results
may vary materially because of risks and uncertainties, including
external factors such as economic conditions and other factors over
which management has no control. These forward-looking statements
should be evaluated together with additional information about
UnitedAuto's business, market conditions, and other uncertainties
which could affect UnitedAuto's future performance, which are
contained in UnitedAuto's Form 10-K for the year ended December 31,
2005, and its other filings with the Securities and Exchange
Commission, and which is incorporated into this press release by
reference. This press release speaks only as of its date and
UnitedAuto disclaims any duty to update the information herein.
CONTACT: United Auto Group, Inc.
Bob O'Shaughnessy, 248-648-2800
or Tony Pordon, 248-648-2540
SOURCE: United Auto Group, Inc.