Sonic Takes A Shine to Sunoco
26 May 1999
Sonic Automotive, Inc. Announces National Oil VendorCHARLOTTE, N.C., May 26 -- Sonic Automotive, Inc. announced today the selection of Sunoco, Inc. (Sunoco and Kendall brands) as its national vendor for oil and lubricant products. Sonic is continuing its efforts to consolidate purchases and realize economies of scale from consolidation in automotive retailing. "In addition to competitive pricing, Sunoco and Kendall brands have an excellent distribution system in all of Sonic's markets. Sunoco, Inc. will provide Sonic with a quality product and efficient distribution to our dealerships. Our relationship with Sunoco, Inc. is another example of how Sonic can realize economies of scale while providing quality products and services to our customers," stated B. Scott Smith, the Company's President and Chief Operating Officer. Sonic Automotive, Inc. is one of the leading automotive retailers in the United States, with operations in Alabama, Florida, Georgia, Maryland, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Upon completion of pending acquisitions, Sonic will operate 111 franchises and 28 collision repair centers. Included herein are forward-looking statements, including statements with respect to anticipated revenue growth. There are many factors which affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission.