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Tuesday, 19 October 2021 20:30

AutoNation to Sell 17 Collision Repair Centers to Caliber Holdings

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AutoNation, Inc., intends to sell 17 unspecified locations of its collision repair centers to Caliber Holdings LLC, according to a filing it registered Oct. 18 with the SEC.

The filing said the agreement was signed Oct. 12 and is expected to close in the fourth quarter of this year.

 

Certain AutoNation stores will continue to sell parts and refer business to those collision centers following the closing of the transaction, the filing said.

 

The 17 collision centers represented less than 0.5% of AutoNation’s total gross profit for the six months ended June 30.

 

In the filing, AutoNation said it remains committed to its collision business and, following the closing of the transaction, will continue to own and operate the largest collision center footprint among its automotive retail peers, with 55 collision centers located from coast to coast, including the collision center it recently acquired in Hilton Head, SC.

 

Caliber Holdings operates more than 1,300 Caliber Collision locations in 36 states.

 

Source: SEC

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