GPI - Group 1 Automotive buysToyota dealership in Albuquerque New Mexico

Group 1 Automotive (NYSE:GPI) is acquiring Larry H. Miller Toyota in Albuquerque, New Mexico. The dealership will be renamed as Sandia Toyota and will add to the company's existing New Mexico portfolio of 8 franchises which represents the Lexus, BMW, MINI, Land Rover, and Jaguar brands. The dealership is expected to generate $115M in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $550M. This dealership represents the 17th Toyota store in the Company's U.S. portfolio. The Company also updated their YTD repurchase activity of 638,696 shares at an average price of $180.30 for a total of $115.2M, representing nearly 4% of outstanding share count.

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Group 1 Automotive buysToyota dealership in Albuquerque, New Mexico