SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : UGLY (Ugly Duckling Corp) used cars
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Scott D. who wrote ()11/8/1999 5:22:00 PM
From: Paul Lee   of 155
 
NOV 08,1999 14:03 PACIFIC 17:03 EASTERN

( BW)(AZ-UGLY-DUCKLING)(UGLY) Ugly Duckling Completes Acquisition of
Virginia Dealerships; Company Enters New Market with Five Dealerships
and Finance Company Portfolio

Business Editors

PHOENIX--(BUSINESS WIRE)--Nov. 8, 1999--Ugly Duckling Corp.
(Nasdaq:UGLY), the largest and fastest growing used-car sales company
focused exclusively on the sub-prime market, today announced that it
has completed its acquisition of certain assets of Virginia Auto Mart,
a Virginia-based sub-prime automobile sales and finance company.
The assets acquired include five used-car dealerships in the
greater Richmond metropolitan area, including vehicle inventory and a
loan portfolio of approximately $8.0 million. Additional terms of the
transaction were not disclosed.
"This acquisition brings our total number of used-car dealerships
to 72, and more importantly, opens a new geographic market for us,"
said Gregory Sullivan, President and Chief Executive Officer of Ugly
Duckling. "Our strategy continues to focus on adding new dealerships
at an accelerated pace, either to fill in existing markets or enter
new markets with multiple locations.
"We expect to add a minimum of 20 dealerships by the end of 2000,
through a combination of acquisitions and de novo projects. Including
today's acquisition, Ugly Duckling has added 30 new dealerships over
the past two years."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News