Group 1 Automotive Expands Its UK Operations With Acquisition Of Four Mercedes-Benz Dealerships From L&L Automotive; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Group 1 Automotive has acquired four Mercedes-Benz dealerships in the UK from L&L Automotive, expected to generate $105 million in annual revenues. This acquisition adds to the $1.1 billion in acquired revenues year-to-date 2024, with total expected acquired revenues reaching $3.8 billion upon closing the pending Inchcape UK dealership acquisition.
July 01, 2024 | 8:17 pm
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Group 1 Automotive's acquisition of four Mercedes-Benz dealerships in the UK is expected to generate $105 million in annual revenues. This adds to the $1.1 billion in acquired revenues year-to-date 2024, with total expected acquired revenues reaching $3.8 billion upon closing the pending Inchcape UK dealership acquisition.
The acquisition of four Mercedes-Benz dealerships is a significant expansion for Group 1 Automotive, expected to generate substantial additional revenue. This move aligns with their strategy of growth through acquisitions, and the market is likely to view this positively, leading to a potential short-term increase in stock price.
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