Automotive retailer Mile One, of Baltimore, has acquired the privately held Hall Automotive dealership group of Virginia Beach, Va. The combined companies will have an estimated $2 billion in annual group revenue, says Sheldon Sandler, founder of Bel Air Partners, which brokered the deal.
Terms of the deal were not disclosed.
Hall Automotive ranks No. 51 on Automotive News' list of the 100 largest U.S. dealership groups. The company sold 13,262 new vehicles at retail last year at 17 dealerships in Virginia and North Carolina. It posted group revenue in 2005 of nearly $640.4 million.
Mile One, which is also privately held, operates 47 dealerships in Maryland, Pennsylvania and Washington, D.C.
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