Group 1 Automotive Acquires Five Volkswagen Franchises In The UK

(RTTNews) - Automotive retailer Group 1 Automotive, Inc. (GPI) announced Monday the acquisition of five Volkswagen franchises in the UK. The transaction includes four Volkswagen franchises and one Volkswagen Commercial Vehicle franchise located east of London in the county of Essex.

This territory is contiguous with several other existing automotive dealerships currently owned and operated by Group 1 Automotive in the UK. Specifically, the acquired operations are located in the cities of Chelmsford, Colchester, Romford and Southend.

This acquisition is expected to generate approximately $115 million in annualized revenues. The addition of these stores increases the Company's UK operations to 49 dealerships (65 franchises), which includes 11 existing brands (Audi, BMW, Ford, Jaguar, Kia, Land Rover, MINI, SEAT, Skoda, Toyota, and Volkswagen Commercial Vehicles).