HOUSTON, TX – August 19, 2014 – Group 1 Automotive, Inc. (NYSE: GPI), a prominent international automotive retailer recognized in the Fortune 500, has broadened its network by acquiring a Mercedes-Benz dealership in Boerne, Texas. This strategic acquisition, now operating as Mercedes-Benz of Boerne, is projected to contribute approximately $135 million in annual revenue, further solidifying Group 1 Automotive’s footprint in the thriving San Antonio metropolitan area. Crucially, this dealership also encompasses a Mercedes-Benz Sprinter commercial vehicle franchise, catering to a diverse clientele from personal luxury vehicle owners to commercial clients.
“We are thrilled to deepen our collaboration with Mercedes-Benz and significantly expand our presence in the dynamic San Antonio market,” stated Earl J. Hesterberg, President and CEO of Group 1 Automotive. This acquisition underscores Group 1’s commitment to serving the growing demand for luxury vehicles and premium automotive services in the San Antonio region, making it an even more convenient destination for San Antonio Mercedes Benz Dealers shoppers.
For customers seeking San Antonio Mercedes Benz dealers, this expansion means enhanced access to the prestigious Mercedes-Benz brand. While Mercedes-Benz of Boerne is technically located just outside San Antonio, its proximity ensures that residents of San Antonio and the surrounding areas now have an even wider selection and improved service options when looking for new or pre-owned Mercedes-Benz vehicles. The inclusion of the Sprinter van franchise is particularly noteworthy, offering specialized commercial vehicles to businesses throughout the San Antonio area. This caters to a segment of the market often seeking robust and reliable transportation solutions from trusted San Antonio Mercedes Benz dealers.
Group 1 Automotive’s expanding network now includes 154 automotive dealerships, representing 197 franchises, and supported by 38 collision centers across the United States, the United Kingdom, and Brazil. Their diverse portfolio features 34 automobile brands, ensuring a wide range of choices for consumers. Through these dealerships, Group 1 Automotive provides comprehensive services including the sale of new and used cars and light trucks, tailored vehicle financing solutions, service and insurance contracts, expert automotive maintenance and repair, and a comprehensive inventory of vehicle parts. This acquisition of Mercedes-Benz of Boerne further reinforces Group 1’s dedication to providing exceptional automotive experiences within the San Antonio Mercedes Benz dealers market and beyond.
About Group 1 Automotive, Inc.
Group 1 Automotive operates a vast network of automotive retail locations. Consumers and investors can explore their extensive offerings and learn more about the company at www.group1auto.com.
Forward-Looking Statements
This press release contains 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 changes, inventory availability, manufacturer relationships, financing costs, acquisition risks, currency fluctuations, and personnel retention. For a comprehensive list of risk factors, please refer to Group 1 Automotive’s SEC filings, including their Form 10-K, 10-Q, and 8-K reports. Readers are cautioned against undue reliance on these forward-looking statements, which are relevant only as of the date of this release. Group 1 Automotive undertakes no obligation to update these statements in light of new information or future events.
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.
