GPI - Group 1 Automotive sees $80M added revenue on BMW/MINI franchises' acquisition in the U.K.
- Group 1 Automotive ( NYSE: GPI ) announced Tuesday 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, increasing the company's U.K. operations to 56 dealerships (79 franchises).
- This acquisition is expected to generate $80M in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $740M.
- 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."
- CEO Hesterberg is scheduled to retire from Group 1 Automotive on Dec. 31, 2022 .
- Also Read: Used auto prices are finally falling - watch these stocks
For further details see:
Group 1 Automotive sees $80M added revenue on BMW/MINI franchises' acquisition in the U.K.