Charlotte, N.C. – Parker Poe Adams & Bernstein LLP is pleased to announce that the firm represented Fortune 500 company Sonic Automotive, Inc. (“Sonic Automotive” or “Sonic”) (NYSE:SAH) in its acquisition of RFJ Auto Partners, Inc., one of the largest transactions in automotive retail history. The acquisition is expected to add $3.2 billion in annualized revenues, propelling Sonic Automotive into the top-five largest dealer groups in the U.S. as measured by total revenues.
The transaction will further diversify Sonic’s franchised dealership business by adding six incremental states to its existing geographic coverage and five additional brands to its portfolio, including the highest volume Chrysler Jeep Dodge RAM dealer in the world in Dave Smith Motors.
Parker Poe served as legal advisor to Sonic on all aspects of the acquisition. The Parker Poe deal team was led by mergers and acquisitions partner Kevin Gottehrer and included partners Chuck Lee (banking and finance), Jimmy Greene (tax), Craig Lynch (real estate), Debbie Kleman (employee benefits), and Andrew Dana (tax), as well as associates Jennifer Paone (mergers and acquisitions), Tim Logan (real estate), and Noah Ganz (mergers and acquisitions).
About Parker Poe
Parker Poe Adams & Bernstein LLP has more than 230 lawyers in eight offices in North Carolina, South Carolina, Georgia, and Washington, D.C. The firm provides legal counsel to many of the largest companies and local governments in the Southeast.
Parker Poe is a member of two leading international legal networks: TerraLex and the Employment Law Alliance. TerraLex and the ELA have chosen Parker Poe to help guide clients through the challenges of global business.