Group 1 Automotive, Inc., an international, Fortune 300 automotive retailer with 205 dealerships located in the U.S. and U.K., announced the expansion of its U.K. operations with the acquisition of a BMW/MINI dealership and a collision center in the town of Southend located east of London in the county of Essex. This location is contiguous with several other existing automotive dealerships currently owned and operated by Group 1 Automotive in the U.K and increases the Company’s U.K. operations to 56 dealerships (79 franchises). This acquisition is expected to generate $80 million in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $740 million.
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Group 1’s Chief Executive Officer Earl Hesterberg stated, “We are extremely pleased to further expand our operations in the U.K. and to increase our BMW/MINI footprint to 43 franchises in the U.S and U.K. Our strong relationship with BMW and our experience in this market area make this an ideal addition to our growing U.K. business.”
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 205 automotive dealerships, 275 franchises, and 48 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations and business strategy and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should,” “foresee,” “may” or “will” and similar expressions.