HOUSTON, July 21, 2014 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today announced the acquisition of Munday Chevrolet and Munday Mazda in Houston, Texas. The dealerships, which will continue to operate as Munday Chevrolet and Munday Mazda, are expected to generate $225 million in estimated annual revenues.
" Munday Chevrolet is the second largest Chevy dealership in Texas and sixth largest in the country. We are delighted to add this high volume store to our growing family of dealerships in our hometown of Houston," said Earl J. Hesterberg, Group 1's president and chief executive officer. "The addition of Chevrolet and Mazda expands our scale and brand offerings to a total of 17 brands across 19 stores serving over 300,000 customers in the greater Houston metropolitan area."
Additionally, on June 23, 2014, Group 1 completed the disposition of Hassel Volvo. This dealership, located on Long Island, New York, generated approximately $30 million in trailing-twelve-month revenues.
About Group 1 Automotive, Inc.Group 1 owns and operates 153 automotive dealerships, 195 franchises, and 38 collision centers in the United States, the United Kingdom and Brazil that offer 34 brands of automobiles. Through its dealerships, the Company 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV