TL;DR
Group 1 Automotive has acquired nine franchises in the U.K., with an expected annual revenue of approximately $300m. The acquisition expands Group 1's U.K. operation to 55 locations with 75 franchises representing 14 brands.
The annual revenue expected from this deal is approximately $300m
The annual revenue expected from this deal is approximately $300m.
Group 1 Automotive , an international automotive dealer with 242 franchises throughout the U.S., U.K., and Brazil, has announced the acquisition of nine businesses northeast of London; primarily in the East Anglian region.
Three of these represent the family of brands offered by the Volkswagen Group, along with one Citroen dealership with locations in the cities of Norwich, Peterborough, Lowestoft, and Ipswich.
The total annual revenue expected from this acquisition is approximately $300m, and brings Group 1’s total U.K. operation to 55 locations with 75 franchises representing 14 brands.
“We are pleased to further expand our strong relationship with the Volkswagen Group in the U.K.,” said Earl Hesterberg, Group 1’s president and CEO. “Our previous experience in these market areas has been very positive and we are confident that these businesses will contribute further growth to our U.K. operation.”
In this story
This story was originally published by Kieran M in Global Franchise on July 7, 2021. Burnaze summarizes and links to the original reporting.
Read the full story at Global FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.