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United Auto Sets San Diego Buy

The company acquires six dealers that should generate about $300 million in yearly revenue.
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United Auto Group

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inked a pact to buy Cush Automotive Group of San Diego, a firm that will add six dealerships to its holdings.

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"Once completed, the acquisition of these franchises will provide UnitedAuto with additional scale to complement our existing operations in the Kearny Mesa area of San Diego," the company explained in a press release Tuesday.

Financial terms of the transaction weren't disclosed, but United Auto expects the dealerships to generate about $300 million in yearly revenue. The purchase should close during the first quarter.

Shares of United Auto, based in Bloomfield Hills, Mich., were down 62 cents, or 1.9%, to $32.64.