Group 1 Automotive Buys Kia Dealership In Austin, Texas - Quick Facts

(RTTNews) - Group 1 Automotive, Inc. (GPI), an automotive retailer, Monday announced the acquisition of South Point Kia in Austin, Texas. The dealership, which will operate as Kia of South Austin, is expected to generate $55 million in estimated annual revenues.

Thus far in 2014, Group 1 has acquired 6 franchises with estimated annual revenues of $295 million and disposed of one franchise with trailing-twelve-month revenues of $20 million.

Earl Hesterberg, Group 1's president and chief executive officer, said, "We are delighted to further expand our footprint in the Austin market, which includes Maxwell Ford, Town North Nissan, and Round Rock Nissan."