GPI - Group 1 Automotive acquires Texas dealerships with $760M expected annual revenue
2023-05-08 18:01:41 ET
- Group 1 Automotive ( NYSE: GPI ) said Monday it acquired three Beck & Masten Buick-GMC dealerships to expand its Texas operations.
- The dealerships are expected to generate $760M in annual revenues, bringing YTD total acquired revenues for Group 1 ( GPI ) to $910M.
- Two of the dealerships, which are in the Houston market, are among the highest volume dealerships in their brand in the U.S.
- The third dealership is in the Corpus Christi metro area and is the highest volume Buick-GMC dealership in its market.
- The acquisition adds to the Company's strong portfolio of 15 dealerships in the Houston market and 55 dealerships in the state of Texas.
- Earlier, Group 1 Automotive rallied after its Q1 earnings topper.
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Group 1 Automotive acquires Texas dealerships with $760M expected annual revenue