US-based automotive retailer AutoNation has signed an agreement to purchase Centennial Chrysler Jeep, which is located in Denver, Colorado.

This purchase will take the retailer’s store count to 18 in Denver.

“This acquisition will complement our existing footprint on Arapahoe Road, an attractive auto retail location.”

Last year, Centennial Chrysler Jeep store sold more than 3,000 new and used retail vehicles and reported annual revenue of approximately $110m.

AutoNation expects to close the acquisition in the third quarter of this year.

The transaction is subject to customary terms and conditions, including manufacturer approval.

AutoNation chairman, chief executive officer and president Mike Jackson said: “This acquisition will complement our existing footprint on Arapahoe Road, an attractive auto retail location. We look forward to welcoming Centennial Chrysler Jeep and its 83 associates to AutoNation.”

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By GlobalData

AutoNation presently owns and operates 367 new vehicle franchises. It sold its ten millionth vehicle last year.