Monday, October 25, 2021
62.8 F
Fort Worth
970x250_DM_Leasing

Group 1 acquires 2 DFW area dealerships

🕐 1 min read

Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer with 190 dealerships located in the U.S., U.K., and Brazil, on Oct. 5 announced the acquisition of Classic Chrysler Dodge Jeep Ram of Denton and Classic Mazda of Denton within the greater Dallas-Fort Worth area.  These two stores are expected to generate approximately $150 million in annualized revenues.

“We are excited to expand our presence in the fast-growing Dallas-Fort Worth metro market with these strong brands,” said Daryl Kenningham, President of U.S. and Brazilian Operations for Group 1 Automotive.

Group 1 currently operates 10 dealerships representing 10 brands in the Dallas-Fort Worth market.

Year to date 2021, Group 1 has completed $570 million of acquired revenues.  The acquisition of these two stores brings Group 1’s total U.S. dealership count to 119.  With the Company’s previously announced pending acquisition of Prime Automotive Group expected to close in late November 2021, the Company’s total acquired revenues are expected to be at least $2.4 billion at the anticipated closing date, and Group 1’s total dealership count would increase to 220 locations globally, which would include 149 U.S. locations.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate