dlq04

UnitedAuto Group. Continuing its forward march with a well-defined acquisition strategy, UnitedAuto Group, Inc. announced that it has signed a definitive agreement to acquire four Honda franchises and two Acura franchises from the Ted Stevens Automotive Network in the San Francisco Bay area. The franchises to be acquired are: Capitol Honda in San Jose, Marin Honda in Marin County, Honda North in Fresno, Gavilan Honda in Gilroy, Los Gatos Acura in San Jose/Los Gatos, and Sunnyvale Acura in San Jose/Sunnyvale. Commenting on the acquisitions, UnitedAuto Chairman Roger Penske said, "These outstanding businesses represent a unique opportunity to enter the northern California market with a substantial footprint. These dealerships expand our presence in California and further illustrate our disciplined acquisition approach to develop scale in selected markets. We are excited to add the Honda and Acura brands to our existing portfolio in California." UnitedAuto currently operates 12 franchises in southern California. Upon completion of this transaction, UnitedAuto will operate 18 franchises in California and 20 Honda and Acura franchises in the United States.

LostWaffle

Does this mean that they have enough coverage in the Bay Area to artificially inflate prices?