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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Tue., Mar. 19, 10:03 AM

Slide #48. Group 1 Automotive, Inc. Modern Classic Motors in Hilton Head, South Carolina

Acquirer: Group 1 Automotive, Inc. (NYSE:GPI)
Acquiree: Modern Classic Motors in Hilton Head, South Carolina
Details: Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced the acquisition of Modern Classic Motors in Hilton Head, South Carolina. The acquisition includes three franchises: Mercedes-Benz, Sprinter and Honda in Beaufort County, one of the fastest-growing counties in South Carolina. The acquisition expands Group 1's relationship with Mercedes-Benz to 17 franchises in the U.S. and U.K. and with Honda to 13 franchises in the U.S. The dealerships are expected to generate $140 million in annual revenues.

Group 1 Automotive is an operator in the automotive retail industry. Through its omni-channel platform, Co. sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. Co. sells retail used vehicles directly to its customers at its dealerships or via AcceleRide® and wholesale used vehicles at third party auctions. Co. sells replacement parts and provides both warranty and non-warranty maintenance and repair services at each of its franchised dealerships, as well as provides collision repair services at its collision centers that it operates.

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Company Name:  Group 1 Automotive, Inc.
Stock buyback:  GPI buyback
Website:  www.group1auto.com
Sector:  Auto Dealerships
Number of ETFs Holding GPI:  57
Total Market Value Held by ETFs:  $892.27M
Total Market Capitalization:  $3.69B
% of Market Cap. Held by ETFs:  24.15%
 

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March 19, 2024    10:03 AM Eastern
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Strong Buy (3.60 out of 4)
63rd percentile
(ranked higher than approx. 63% of all stocks covered)

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