US EditionGroup 1 Automotive Expands with Acquisition of Three Luxury Brand Dealerships in Florida and Texas
- Group 1 Automotive, Inc. Announced on May 19, 2025, the acquisition of three luxury brand dealerships in Fort Myers, Florida, and Austin, Texas.
- The expansion follows Group 1's strategy to grow its luxury brand portfolio and increase presence in fast-growing markets like Fort Myers and Austin.
- Two dealerships are Lexus and Acura in Fort Myers, expanding the company’s footprint there to three, while acquiring Mercedes-Benz of South Austin raises Austin dealerships to eight.
- These new dealerships are expected to generate approximately $330 million in annual revenues, bringing Group 1’s estimated total acquisitions for 2025 to $430 million in revenues.
- The Chief Executive Officer of Group 1 expressed optimism that the inclusion of these luxury brand dealerships will greatly enhance the company's portfolio and contribute to its ongoing growth.
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The Times of Northwest Indiana+59 Reposted by 59 other sources
Group 1 Automotive Expands with Acquisition of Three Luxury Brand Dealerships in Florida and Texas
Expected to Generate $330 Million in Annual RevenuesProvides Share Repurchase Update
·Cherokee County, United States
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Group 1 Automotive is growing again. The dealership group announced the addition of two dealerships in Florida and one in Texas in recently completed transactions. The company has acquired Scanlon Auto Group, consisting of Scanlon Lexus and Scanlon Acura in Fort Myers, Fla., from the Scanlon family, and Mercedes-Benz of South Austin in Austin, Texas, from Swickard Auto Group. Group 1, which operates 263 dealerships and 39 collision centers in th…
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