United Auto Group acquires Atlanta area Nissan dealership; Acquisition Enhances United Auto's Retail Presence in the Atlanta Market.NEW YORK--(BUSINESS WIRE)--May 2, 1996--The United Auto Group, Inc. has expanded its presence in the Atlanta market with the acquisition of Steve Rayman Nissan, Inc., one of the nation's most successful Nissan dealers, it was announced today by Carl Spielvogel, Chairman and Chief Executive Officer of United Auto. United Auto is a privately-owned operator of multiple franchise retail automobile dealerships. The Company has pursued a business strategy based on internal growth from existing dealerships, as well as from strategic acquisitions. United Auto is the nation's third largest auto retailer in the U.S. Terms of the transaction were not disclosed. The suburban Morrow, Georgia-based Nissan dealership, which will be renamed United Nissan, is a leading Nissan retailer in Georgia. Since 1994 Nissan has honored the dealership with its coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. President's and Sales Leader Club awards for outstanding sales performance and customer satisfaction. The dealership also sells previously owned vehicles and offers a complete range of services, including automotive service and parts, financing and insurance. United Auto also owns Atlanta Toyota in the Atlanta, GA suburb of Duluth. Mr. Spielvogel said, "This strategic acquisition, our third since last summer, is part of United Auto's plan to own dealerships that have earned the highest customer satisfaction ratings, and have high sales growth in expanding markets." Bruce G. Dunker, who has run the dealership for three years, has been appointed President and General Manager of United Nissan with full responsibility for day-to-day operations and local market strategy, Mr. Spielvogel said. Mr. Dunker said, "The opportunity to expand our franchise under the United Auto banner offers an enhanced message to Atlanta area purchasers of new and previously owned vehicles. United Auto's customer-oriented approach fits well with our past success." United Auto acquired majority interests in Landers Auto Sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. , a group of dealerships in the Little Rock, AR suburb of Benton, and Duluth, Georgia-based Atlanta Toyota in August 1995 and January 1996, respectively. United Auto Group was formed in 1992. Trace International Holdings, Inc. (formerly '21' International Holdings, Inc.); Harvard Private Capital Group, Inc., the private investment arm of Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. ; Apollo Advisors L.P., a New York-based investment company; J.P. Morgan Capital Corporation; and Alliance Capital, a subsidiary of Equitable Life Equitable Life may refer to:
United Auto, with approximately 1,600 employees, operates 39 franchises, at 24 locations, in Arkansas, Connecticut, Georgia, New Jersey and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Its principal sites are: DiFeo Auto Show An auto show, or motor show, is a public exhibition of current automobile models, debuts, concept cars, or out-of-production classics. It is commonly attended by automobile manufacturers. Most auto shows occur once or twice a year. in Jersey City; Danbury (CT) AutoPark; Landers Auto Sales in Benton, AR; Atlanta Toyota, Inc. in Duluth, Georgia Duluth is a city in Gwinnett County, Georgia, and a suburb of Atlanta located in the Metro Atlanta area. Unincorporated portions of northeast Fulton County and Forsyth County also have Duluth as a mailing address, though this area is technically outside city limits. and United Nissan in Morrow, GA. Other locations are: Watertown, CT; Nyack, NY; and Bound Brook, Englewood, Tenafly and Toms River, NJ. CONTACT: Carl Spielvogel Chairman and Chief Executive Officer 212 223-3300 OR David E. Bright Director of Communications Director of Communications is a position in the private and public sectors. The Director of Communications is responsible for managing and directing an organization's internal and external communications. 212 230-0488 |
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