HOUSTON, TX – Group 1 Automotive, Inc. (NYSE: GPI), a prominent international automotive retailer and Fortune 500 company, has announced a significant expansion in the Texas market with the acquisition of a Mercedes-Benz dealership. Located in Boerne, Texas, this acquisition further strengthens Group 1’s presence in the thriving San Antonio metropolitan area, offering enhanced access to luxury vehicles and services for customers seeking “Benz San Antonio”. The newly acquired dealership, which will operate as Mercedes-Benz of Boerne, is projected to generate an estimated $135 million in annual revenue and also includes a Mercedes-Benz Sprinter commercial vehicle franchise, broadening the options for both personal and business clients in the region.
“We are thrilled to deepen our partnership with Mercedes-Benz and further expand our reach within the dynamic San Antonio metropolitan market,” stated Earl J. Hesterberg, President and Chief Executive Officer of Group 1 Automotive. This strategic acquisition underscores Group 1 Automotive’s commitment to growth and to providing exceptional automotive experiences to a wider customer base interested in “benz san antonio” and the surrounding areas.
About Group 1 Automotive, Inc.
Group 1 Automotive stands as a leading operator in the automotive retail sector, boasting ownership and management of 154 automotive dealerships, representing 197 franchises, and supported by 38 collision centers across the United States, the United Kingdom, and Brazil. The company’s extensive network encompasses 34 diverse automobile brands, offering a wide selection of new and used cars and light trucks. Beyond sales, Group 1 Automotive provides comprehensive services, including vehicle financing arrangements, service and insurance contract sales, expert automotive maintenance and repair services, and a wide array of vehicle parts. For those interested in learning more about Group 1 Automotive and its operations, please visit www.group1auto.com.
Forward-Looking Statements
This press release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events and are based on current expectations and assumptions regarding the company’s business, economic conditions, and other future factors. Statements regarding goals, plans, projections, financial position, operations, market position, potential acquisitions, and business strategy, often identified by terms such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should,” “foresee,” “may,” or “will,” are forward-looking. While believed to be reasonable at the time of writing, these statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially. These potential risks include economic conditions, manufacturer incentives, regulatory changes, inventory availability, manufacturer relationships, financing costs, acquisition risks, currency fluctuations, and personnel retention. For a detailed understanding of these factors, please refer to Group 1 Automotive’s filings with the SEC, including reports on Form 10-K, 10-Q, and 8-K. Readers are cautioned against placing undue reliance on these forward-looking statements, which are relevant only as of the current date, and the company undertakes no obligation to update them publicly.
Investor Contacts:
Sheila Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | [email protected]
Media Contacts:
Pete DeLongchamps
V.P. Manufacturer Relations, Financial Services and Public Affairs
Group 1 Automotive, Inc.
713-647-5770 | [email protected]
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | [email protected]
SOURCE Group 1 Automotive, Inc.
