Group 1 Automotive, Inc., an international, Fortune 300 automotive retailer with 204 dealerships located in the U.S. and U.K., announced the expansion of its U.S. operations with the acquisition of Mercedes-Benz and Sprinter franchises in Anaheim, California. This acquisition expands Group 1’s global relationship with Mercedes-Benz to 17 dealerships in the U.S. and U.K.
Group 1’s Chief Executive Officer Earl Hesterberg stated, “We want to welcome the team at Mercedes-Benz of Anaheim to the Group 1 family and are extremely pleased to expand our existing operations in Southern California with this great brand. Our strong relationship with Mercedes-Benz and experience in this market area make this dealership an excellent addition to our portfolio.”
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Group 1 has now acquired $940 million of annual revenues in 2022, which follows $2.5 billion of acquired revenues in 2021. The Company has also continued to maintain its balanced capital allocation approach by repurchasing approximately 21% of its outstanding shares since November 2021.
Group 1 owns and operates 204 automotive dealerships, 275 franchises, and 47 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.
SOURCE: PR Newswire