Florida's Wallace Automotive Group for about $55 million in stock.

This is the seventh car dealership acquisition by billionaire Wayne Huizenga's company.

Republic, whose largest shareholder is Bermuda resident Michael DeGroote, started acquiring car dealerships in late December.

Wallace is expected to add $300 million revenue to Republic's new car dealership group to this year's $2.8 billion projected revenue.

The new car dealerships complement Republic's AutoNation used car chain.

Republic also owns and operates solid waste landfills and has an electronic security business.

In November, Republic agreed to buy Alamo Rent-A-Car and last month agreed to buy National Car Rental System.