Sonic Automotive / EchoPark Acquires Carbiz Dealership Group
March 16, 2021
Sonic Automotive, through its EchoPark Automotive segment, acquired the family-owned Carbiz dealership group and integrated two Carbiz locations in Baltimore and Laurel, Maryland into the EchoPark network. The deal retained all 65 Carbiz associates and expands EchoPark's nationwide footprint as part of Sonic's broader growth in the pre-owned vehicle retail market.
- Buyers
- Sonic Automotive, Inc., EchoPark Automotive
- Targets
- Carbiz
- Sellers
- Carbiz owners (family-owned)
- Industry
- Automotive
- Location
- Maryland, United States
- Transaction Type
- Buyout
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