HOUSTON, Aug. 19, 2014 – Group 1 Automotive, Inc. (NYSE: GPI), a leading international automotive retailer recognized in the Fortune 500, has broadened its portfolio with the acquisition of Mercedes-Benz of Boerne, Texas. This strategic move, announced today, further cements Group 1 Automotive’s strong presence in the lucrative San Antonio metropolitan market and is projected to add an estimated $135 million in annual revenue. The acquisition also includes a Mercedes-Benz Sprinter commercial vehicle franchise, enhancing the dealership’s offerings.
“We are thrilled to deepen our collaboration with Mercedes-Benz and significantly expand our reach within the thriving San Antonio metropolitan area,” stated Earl J. Hesterberg, President and Chief Executive Officer of Group 1 Automotive. This acquisition of Mercedes-Benz of Boerne Texas aligns perfectly with Group 1’s growth strategy and underscores our commitment to providing exceptional automotive experiences.”
Expanding Premier Automotive Services in Boerne, Texas
The newly acquired Mercedes-Benz of Boerne is poised to deliver an unparalleled automotive experience to customers in Boerne and the surrounding Texas Hill Country. As part of the Group 1 Automotive network, Mercedes-Benz of Boerne will uphold the highest standards of customer service, vehicle expertise, and community engagement. Customers can anticipate a seamless and sophisticated environment for all their Mercedes-Benz needs, whether they are in the market for a new or pre-owned vehicle, require expert service, or are exploring financing options.
A Comprehensive Range of Mercedes-Benz Vehicles and Services
Mercedes-Benz of Boerne will offer an extensive selection of new and used Mercedes-Benz vehicles, catering to a diverse range of preferences and requirements. From the luxurious S-Class sedan to the versatile GLE SUV and the robust Sprinter commercial vans, the dealership is committed to providing the perfect vehicle for every customer. Beyond sales, Mercedes-Benz of Boerne will also feature a state-of-the-art service center staffed by factory-trained technicians, ensuring that your Mercedes-Benz receives the expert care it deserves. Customers can also expect access to genuine Mercedes-Benz parts and accessories, as well as tailored financing and insurance solutions to simplify the ownership experience.
Group 1 Automotive: A Commitment to Automotive Excellence
Group 1 Automotive operates 154 dealerships, representing 197 franchises and supported by 38 collision centers across the United States, the United Kingdom, and Brazil. The company’s diverse portfolio includes 34 brands of automobiles, reflecting its commitment to meeting the varied needs of customers worldwide. Through its extensive network, Group 1 Automotive delivers a comprehensive suite of automotive services, including new and used vehicle sales, financing, insurance, maintenance, repair, and parts. The acquisition of Mercedes-Benz of Boerne Texas further solidifies Group 1 Automotive’s position as a leading player in the automotive retail sector and reinforces its dedication to growth and customer satisfaction.
For more information about Group 1 Automotive, 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 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 and availability, acquisition risks, foreign exchange fluctuations, and personnel retention. Refer to Group 1 Automotive’s SEC filings for a comprehensive discussion of these risks and uncertainties. Group 1 Automotive undertakes no obligation to update these forward-looking statements.
Investor Relations Contact:
Sheila Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | [email protected]
Media Relations 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.
