HOUSTON, July 6, 2021 /PRNewswire/ -- Group 1
Automotive, Inc. (NYSE: GPI), ("Group 1" or
the "Company"), an international, Fortune 500 automotive
retailer, today announced the expansion of its U.K. operations with
the acquisition of nine businesses northeast of London, primarily in the region of East
Anglia. These operations represent the family of brands
offered by the Volkswagen Group, along with one Citroen dealership
with major locations in the cities of Norwich, Peterborough, Lowestoft and Ipswich. The dealerships
are being acquired from the Robinsons Motor Group, which previously
sold five Mercedes dealerships to the Company in 2018.
The total annual revenue expected from this acquisition is
approximately $300M and will be
driven by an Audi dealership in Norwich, along with Volkswagen brand
operations in Norwich,
Peterborough and Lowestoft.
This action brings Group 1's total U.K. operation to a total of 55
locations with 75 franchises representing 14 total brands.
Group 1's President and Chief Executive Officer Earl Hesterberg stated, "We are pleased to
further expand our strong relationship with the Volkswagen Group in
the U.K. Our previous experience in these market areas has
been very positive and we are confident that these businesses will
contribute further growth to our U.K. operation."
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns
and operates 188 automotive dealerships, 242 franchises, and
48 collision centers in the United States, the United
Kingdom and Brazil that offer 32 brands of
automobiles. Through its dealerships, the Company sells new and
used cars and light trucks; arranges related vehicle financing;
sells service contracts; provides automotive maintenance and repair
services; and sells vehicle parts.
Investors please visit group1corp.com, group1auto.com,
group1collision.com, acceleride.com, facebook.com/group1auto, and
twitter.com/group1auto, where Group 1 discloses additional
information about the Company, its business, and its results of
operations.
Investor contacts:
Sheila
Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | sroth@group1auto.com
Media contacts:
Pete
DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services
and Public Affairs
Group 1 Automotive, Inc.
713-647-5770 | pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | cwoods@piercom.com
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SOURCE Group 1 Automotive, Inc.