July 1, 1997 |
Toyota Motor Corp.'s U.S. sales subsidiary on Monday terminated the franchise of an Arizona dealership recently bought by Republic Industries Inc., escalating the legal battle between the two companies. Toyota Motor Sales USA Inc. and Republic have been at odds since the rapidly expanding, publicly owned dealership group began buying Toyota franchises earlier this year. Since December, Republic has become the world's biggest dealer group. It owns or has agreed to buy 126 dealerships nationwide.
June 11, 1998 |
Honda Motor Co. said Wednesday it had reached a legal settlement that will let auto retailer Republic Industries Inc. buy Honda and Acura dealerships. The agreement ends Honda's lawsuits against Republic over the sale of 12 dealerships in six states, including California. Honda, whose U.S. operations are based in Torrance, had argued that the sale would violate its policy limiting the number of lots an individual or outside company can own.
October 1, 1996 |
Republic Industries Inc.'s proposed $4.3-billion acquisition of ADT Ltd. was called off Monday, in a setback for empire builder Wayne Huizenga, the chairman of Republic. ADT is the nation's largest burglar alarm company and second in the growing field of used-car auctions, two businesses targeted by Huizenga before the stock-swap deal was announced three months ago. But doubts about the viability of the merger arose after Western Resources, a Topeka, Kan.
February 6, 1997 |
Republic Industries Inc., a fast-growing conglomerate run by multibillionaire H. Wayne Huizenga, said Wednesday it is acquiring one of the California's largest waste-management companies as part of an ambitious plan to expand its waste business throughout the West. Taormina Industries Inc. has agreed to merge into Republic for about $250 million in stock. Brothers William and Vincent Taormina will receive 6.5 million shares and will operate the Anaheim company as a separate subsidiary.
February 11, 1999 |
Megadealer Republic Industries Inc., moving to further expand its hefty Southern California new-car network, has agreed to buy most of Tustin-based MacPherson Enterprises' dealerships, sources said Wednesday. The deal to buy Southern California's eighth-largest auto chain would solidify Republic's position as the largest new-car dealer in Orange County by adding MacPherson's leasing business and its Ford, Chevrolet, Mazda and Infiniti franchises to the 11 dealerships it already owns here.
January 15, 1997 |
Billionaire Wayne Huizenga's Republic Industries Inc. added another sales outlet to its mushrooming auto-retailing business with the $200-million acquisition Tuesday of a leading Florida car dealer. Maroone Automotive Group is Republic's second car dealership acquisition in as many days. On Monday, it agreed to buy Grubb Automotive Inc., which operates six Phoenix-area dealerships, for $100 million in stock. Also this week, Republic struck an agreement with General Motors Corp.
May 15, 1997 |
Republic Industries Inc. escalated a battle over auto franchise ownership Wednesday, saying it will buy two more Toyota dealerships despite the auto importer's concern that it is buying too many too fast. Toyota Motor Sales U.S.A. Inc. and American Honda Motor Co., both headquartered in Torrance, are resisting what they believe is a move by Republic Chairman H. Wayne Huizenga to gain control of up to 20% of their total U.S. retail sales.
August 15, 1998 |
Republic Industries Inc. has agreed to buy three franchise car dealership groups in Southern California, including the region's largest sellers of Mercedes-Benz and Jeep vehicles. The deals, among six separate transactions announced Friday, would make Republic one of the largest car retailers in Southern California. With the acquisitions, Republic's local holdings will increase to 11 franchises and 50 locations, said Jim Donahue, vice president of communications for Republic.
January 31, 1997 |
Republic Industries Inc. said Thursday that its losses widened in the fourth quarter as it took one-time charges related to its $625-million purchase of Alamo Rent-a-Car Inc. and other companies. The diversified holding company based in Fort Lauderdale, Fla., said its losses grew to $96.6 million, or 38 cents a share, in the fourth quarter from $8.3 million, or 3 cents a share, in the year-ago period. Revenue jumped 51%, to $663 million from $438 million. Republic, led by billionaire H.
February 24, 1999 |
The nation's two largest operators of used-car superstores appear to be tossing in the towel on their narrow strategy of killing the competition with size and service instead of price. CarMax Group said Tuesday that it will delay expansion of its superstores into the Los Angeles area until next year as it tests a new strategy of opening smaller stores in other metropolitan markets.