Group 1 Automotive Announces Acquisition Of Beck & Masten Kia; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Group 1 Automotive has acquired Beck & Masten Kia, a dealership located in the Houston metropolitan area. The acquisition expands Group 1's footprint to 15 brands and 18 dealerships in the Houston market. The dealership is expected to generate $85 million in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $1.0 billion.
June 01, 2023 | 9:22 pm
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Group 1 Automotive's acquisition of Beck & Masten Kia is expected to generate $85 million in annual revenues, contributing to the company's year-to-date total acquired revenues of $1.0 billion.
The acquisition of Beck & Masten Kia expands Group 1 Automotive's presence in the Houston market and is expected to generate significant annual revenues. This positive development is likely to have a short-term positive impact on the company's stock price.
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