Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 500 automotive retailer with international operations, has announced a strategic expansion in the heart of Texas. The acquisition of a Mercedes-Benz dealership in Boerne, Texas, marks a significant move to strengthen its presence within the thriving San Antonio metropolitan market. This acquisition, revealed on August 19, 2014, not only adds a premier luxury brand to Group 1’s portfolio but also underscores its commitment to serving the growing demand for Mercedes-Benz vehicles in the San Antonio region. The newly acquired dealership, set to operate as Mercedes-Benz of Boerne, is projected to generate an impressive $135 million in annual revenue, further solidifying Group 1 Automotive’s financial strength and market position. Notably, the dealership also includes a Mercedes-Benz Sprinter commercial vehicle franchise, broadening the range of vehicles and services offered to customers in and around San Antonio.
Earl J. Hesterberg, President and CEO of Group 1 Automotive, emphasized the strategic importance of this acquisition, stating, “We are delighted to strengthen our relationship with Mercedes-Benz and further expand our scale in the San Antonio metropolitan market.” This statement highlights the company’s focused approach to growth, specifically targeting the robust San Antonio area and deepening their partnership with the prestigious Mercedes-Benz brand. For residents and businesses in San Antonio seeking Mercedes-Benz vehicles and services, this acquisition translates to enhanced access and a wider selection within Group 1 Automotive’s expanding network.
Group 1 Automotive: A Leader in Automotive Retail
Group 1 Automotive stands as a prominent player in the automotive retail landscape, operating a vast network of 154 automotive dealerships. This extensive network encompasses 197 franchises and 38 collision centers strategically located across the United States, the United Kingdom, and Brazil. Representing 34 diverse automobile brands, Group 1 Automotive offers customers a comprehensive selection of new and used cars and light trucks. Beyond vehicle sales, the company provides a full suite of automotive services, including arranging vehicle financing, sales of service and insurance contracts, expert maintenance and repair services, and a comprehensive inventory of vehicle parts. This integrated approach ensures a seamless and customer-centric experience throughout the vehicle ownership journey.
With a strong online presence at www.group1auto.com, Group 1 Automotive provides convenient access to its inventory and services. The acquisition of Mercedes-Benz of Boerne further exemplifies Group 1 Automotive’s strategic growth and its dedication to meeting the automotive needs of diverse markets, particularly within the dynamic San Antonio region. For those in the market for a Mercedes-Benz in San Antonio, Group 1 Automotive’s expanding network offers enhanced choice, convenience, and the assurance of service from a leading automotive retailer.
Forward-Looking Statements
It is important to note that the announcement includes forward-looking statements, as is standard in corporate communications regarding acquisitions. These statements, related to future expectations and projections, are based on current assumptions about the business environment and future conditions. Factors such as economic conditions, manufacturer incentives, regulatory changes, inventory availability, manufacturer relationships, financing costs, acquisition integration, currency fluctuations, and personnel retention could potentially influence actual results. Investors are advised to consult Group 1 Automotive’s filings with the SEC for a comprehensive understanding of potential risks and uncertainties. These forward-looking statements reflect the company’s outlook as of the announcement date and are not guarantees of future performance. Group 1 Automotive undertakes no obligation to update these statements publicly.
Investor and Media Contacts
For further information, investors can contact Sheila Roth, Manager of Investor Relations at Group 1 Automotive, Inc., via email at [email protected] or by phone at 713-647-5741. Media inquiries can be directed to Pete DeLongchamps, V.P. Manufacturer Relations, Financial Services and Public Affairs at Group 1 Automotive, Inc., via email at [email protected] or by phone at 713-647-5770. Alternatively, media can contact Clint Woods at Pierpont Communications, Inc. via email at [email protected] or by phone at 713-627-2223.
