Sonic Automotive Announces Acquisition of Audi New Orleans

The acquisition marks the company's first franchise automotive location in Louisiana

CHARLOTTE, N.C.--(BUSINESS WIRE)--Sonic Automotive, Inc. ("Sonic'' or the "Company") (NYSE:SAH), a Fortune 500 Company and one of the nation's largest automotive and powersports retailers, today announced the recent acquisition of Audi New Orleans, located in Metairie, Louisiana, serving the greater New Orleans area.

The Company purchased Audi New Orleans from the Bohn Brothers Automotive Group, which has a deep history of automotive dealership operations in Louisiana. Audi New Orleans opened its doors in June 2009, continuing a tradition of quality automotive sales and service established by George Bohn, Sr., in the greater New Orleans area over one hundred years ago. Kerrigan Advisors represented the Bohn Brothers Automotive Group in the transaction.

"We are thrilled to welcome the team from Audi New Orleans into the Sonic Automotive family," said David B. Smith, Chairman and Chief Executive Officer of Sonic Automotive, Inc. "It's an honor to continue the tradition of offering high-quality automotive sales and service experiences established in the greater New Orleans area by the Bohn family since 1924. Our team looks forward to providing a world-class guest experience to Audi New Orleans guests and furthering our commitment to delivering the Audi brand promise through this dealership."

"We are grateful for the loyal customers, dedicated Audi New Orleans team members, and community partners for supporting the dealership for the last 15 years, and we look forward to seeing the dealership continue to serve Audi customers in the New Orleans community for years to come," said the Bohn family.

The acquisition of Audi New Orleans complements the Company's diverse portfolio of automotive brands. This marks Sonic Automotive's 10th Audi dealership and its first franchise automotive dealership in Louisiana. The acquisition of Audi New Orleans brings the Company's franchise automotive dealership portfolio to 108 locations nationwide.

About Sonic Automotive:

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is on a quest to become the most valuable diversified automotive retail and service brand in America. Our Company culture thrives on creating, innovating, and providing industry-leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive and powersports retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in these categories. Our new platforms, programs, and people are set to drive the next generation of automotive and powersports experiences. More information about Sonic Automotive can be found at sonicautomotive.com and ir.sonicautomotive.com.

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ir@sonicautomotive.com

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Source: Sonic Automotive, Inc.

Released December 12, 2024