RumbleOn (NASDAQ: RMBL) is continuing its expansion push acquisitions.
Marking its third deal this year, the Irving-based publicly traded online vehicle marketplace has entered into a definitive agreement to acquire Fort Worth powersport vehicle dealer Freedom Powersports.
Financial terms of the deal, which is expected to close later this year or early next year, were not disclosed.
“We expect Freedom to be accretive to our performance on day one without raising equity capital to fund cash consideration,” said RumbleOn CEO Marshall Chesrown in a statement.
Since launching in 2017, RumbleOn has grown its omnichannel platform through acquisition deals, making at least one move each year.
The largest deal the company has made was valued at more than $575 million and came earlier this year when it acquired Arizona retailer RideNow Powersports. It followed that with an acquisition of an unnamed powersports dealer in Florida, where RumbleOn recently opened a 60,000 square-foot fulfillment center.
With the Freedom Powersport deal, RumbleOn has more than 55 locations across the country and 500 dealers using its technology.
Read the full story at Dallas Business Journal.
