HOUSTON, Aug. 19, 2014 – Group 1 Automotive, Inc. (NYSE: GPI), a prominent international automotive retailer and Fortune 500 company, has broadened its footprint in the lucrative Texas market with the acquisition of a Mercedes-Benz dealership in Boerne. This strategic move significantly enhances Group 1’s presence in the San Antonio metropolitan area, reinforcing its commitment to the luxury automotive sector and the Mercedes-Benz San Antonio customer base.
The newly acquired dealership, which will operate under the name Mercedes-Benz of Boerne, is projected to generate an impressive $135 million in annual revenue. This acquisition not only expands Group 1’s portfolio but also incorporates a valuable Mercedes-Benz Sprinter commercial vehicle franchise, diversifying its offerings and catering to a wider range of customer needs within the Mercedes-Benz San Antonio region.
Earl J. Hesterberg, President and CEO of Group 1 Automotive, expressed enthusiasm about this expansion, stating, “We are delighted to strengthen our relationship with Mercedes-Benz and further expand our scale in the San Antonio metropolitan market.” This acquisition underscores Group 1’s strategic focus on growing within key metropolitan areas and solidifying its partnerships with leading automotive brands like Mercedes-Benz. The Mercedes-Benz San Antonio market is recognized for its strong demand for luxury vehicles, making this acquisition a strategic advantage for Group 1 Automotive.
About Group 1 Automotive, Inc.
Group 1 Automotive stands as a leading operator in the automotive retail landscape, boasting ownership and operation of 154 automotive dealerships. With 197 franchises and 38 collision centers spread across the United States, the United Kingdom, and Brazil, Group 1 offers a diverse range of 34 automobile brands. Their comprehensive dealership services include the sale of new and used cars and light trucks, facilitating vehicle financing, selling service and insurance contracts, providing expert automotive maintenance and repair services, and distributing vehicle parts. For those interested in exploring their extensive offerings or learning more about the company, Group 1 Automotive can be found online at www.group1auto.com.
This acquisition of Mercedes-Benz of Boerne is a forward-looking step for Group 1 Automotive, enhancing its position in the Mercedes-Benz San Antonio market and promising continued growth and success in the luxury automotive sector.
