Driving the news: AutoNation $AN ( ▲ 1.05% ) has acquired two luxury dealerships in the Chicago metropolitan area from Fletcher Jones Automotive Group, including Mercedes-Benz of Chicago and Fletcher Jones Audi.
For context: The Presidio Group exclusively advised AutoNation on the transaction, which closed September 15 and included all related real estate.
AutoNation now operates three Mercedes-Benz stores and two Audi stores in the Chicago market.
Fletcher Jones is concentrating on its remaining 13 dealerships in California and Nevada, almost all luxury-brand stores.
Why it matters: Major public dealership groups like AutoNation continue to strategically cluster in key markets while private groups like Fletcher Jones focus its resources on core territories.
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