HOUSTON, Aug. 19, 2014 – Group 1 Automotive, Inc. (NYSE: GPI), a prominent international automotive retailer recognized in the Fortune 500, has broadened its portfolio with the strategic acquisition of a Mercedes-Benz dealership in Boerne, Texas. This acquisition marks a significant expansion in the luxury automotive market for Group 1, with the dealership set to operate as Mercedes-Benz of Boerne. The new Mercedes-Benz of Boerne dealership is projected to generate an impressive $135 million in annual revenue, further solidifying Group 1’s strong financial performance and market presence. This acquisition also encompasses a valuable Mercedes-Benz Sprinter commercial vehicle franchise, adding another dimension to the offerings at Mercedes-Benz of Boerne and catering to a wider range of customer needs.
Alt Text: Exterior view of a Mercedes-Benz dealership showcasing luxury vehicles and modern architecture, relevant to Mercedes-Benz of Boerne.
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 Automotive’s commitment to growth and its strategic focus on key markets like San Antonio and the thriving luxury vehicle segment represented by Mercedes-Benz of Boerne.
Group 1 Automotive: A Leader in Automotive Retail
Group 1 Automotive stands as a leading operator in the automotive retail sector, boasting an extensive network of 154 automotive dealerships. This network encompasses 197 franchises and 38 collision centers spread across the United States, the United Kingdom, and Brazil. Representing 34 diverse automobile brands, Group 1 Automotive offers a wide selection of new and used cars and light trucks to meet varied customer preferences and needs. Beyond vehicle sales, Group 1 Automotive provides comprehensive services including arranging vehicle financing, selling service and insurance contracts, delivering expert automotive maintenance and repair services, and supplying genuine vehicle parts. The acquisition of Mercedes-Benz of Boerne further enhances Group 1’s service capabilities and brand representation in the luxury market.
Alt Text: Interior of a Mercedes-Benz showroom, displaying a range of luxury cars and a welcoming customer service environment, typical of Mercedes-Benz of Boerne.
Forward-Looking Statements
This press release includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions about future events and are subject to risks and uncertainties. Factors that could cause actual results to differ materially include economic conditions, manufacturer incentives, regulatory environments, inventory availability, manufacturer relationships, financing costs, acquisition risks, currency fluctuations, and personnel retention. Investors are advised to consult Group 1 Automotive’s SEC filings for a comprehensive understanding of these risks and uncertainties. Forward-looking statements are not guarantees of future performance, and Group 1 Automotive undertakes no obligation to update them.
Alt Text: A Mercedes-Benz Sprinter van, highlighting the commercial vehicle franchise included in the Mercedes-Benz of Boerne acquisition by Group 1 Automotive.
Contact Information:
Investor Relations: Sheila Roth Manager, Investor Relations Group 1 Automotive, Inc. 713-647-5741 | [email protected]
Media Relations: Pete DeLongchamps V.P. Manufacturer Relations, Financial Services and Public Affairs Group 1 Automotive, Inc. 713-647-5770 | [email protected] or Clint Woods Pierpont Communications, Inc. 713-627-2223 | [email protected]
SOURCE Group 1 Automotive, Inc.
