HOUSTON, TX – Group 1 Automotive, Inc. (NYSE: GPI), a leading international automotive retailer and Fortune 500 company, has announced a significant expansion in the Texas luxury car market with the acquisition of Mercedes-Benz of Boerne. This strategic move, finalized in August 2014, further solidifies Group 1 Automotive’s commitment to the San Antonio metropolitan area and strengthens its partnership with the prestigious Mercedes-Benz brand.
The newly acquired dealership, now officially operating as Mercedes-Benz of Boerne, is projected to generate an impressive $135 million in annual revenue. This acquisition not only expands Group 1 Automotive’s portfolio but also introduces a valuable Mercedes-Benz Sprinter commercial vehicle franchise to their offerings. This addition is poised to meet the growing demand for luxury commercial vehicles in the region.
Mercedes-Benz of Boerne Dealership Exterior
Earl J. Hesterberg, President and CEO of Group 1 Automotive, expressed his 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 Automotive’s strategic vision to grow within key markets and enhance its brand representation.
About Group 1 Automotive: A Leader in Automotive Retail
Group 1 Automotive stands as a prominent player in the automotive industry, operating a vast network of 154 dealerships, 197 franchises, and 38 collision centers across the United States, the United Kingdom, and Brazil. Representing 34 diverse automotive brands, Group 1 Automotive offers an extensive selection of new and used vehicles, coupled with comprehensive automotive services. Their offerings include vehicle financing, service and insurance contracts, expert maintenance and repair services, and genuine vehicle parts sales.
For customers in and around Boerne, Texas, this acquisition means enhanced access to the exceptional Mercedes-Benz lineup and the robust Mercedes-Benz Sprinter commercial vehicles, all backed by the reputable service and customer care of Group 1 Automotive. Mercedes-Benz of Boerne is set to become a premier destination for automotive enthusiasts and businesses alike in the Texas Hill Country.
Forward-Looking Statements
It is important to note that the announcement includes forward-looking statements, as is standard practice for publicly traded companies. These statements, while based on current expectations and assumptions, are subject to risks and uncertainties that could cause actual results to differ. Factors such as economic conditions, manufacturer incentives, regulatory environments, vehicle inventory, manufacturer relationships, financing costs, acquisition risks, currency fluctuations, and personnel retention could influence future outcomes. For a comprehensive understanding of these potential factors, readers are encouraged to review Group 1 Automotive’s filings with the Securities and Exchange Commission (SEC).
Contact Information
For investor inquiries, please contact:
Sheila Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | [email protected]
For media inquiries, please contact:
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.
