Group 1 Automotive Announces Acquisition Of Prime Automotive Group Dealerships
Acquiring Company
Group 1 Automotive
HoustonManufacturingCommerce and ShoppingTransportationRetailAutomotiveMotor Vehicle ManufacturingRetail Motor VehiclesDescription
Group 1 Automotive, Inc. (NYSE: GPI), ("Group 1" or the "Company" or the "Buyer"), an international, Fortune 500 automotive retailer with 188 dealerships located in the U.S., U.K., and Brazil, today announced it has entered into a definitive agreement to purchase substantially all the assets, including real estate, of Prime Automotive Group (the "Seller"), headquartered in Westwood, Massachusetts. In 2020, the corresponding Prime dealerships generated $1.8 billion in annual revenues and retailed over 52,000 new and used vehicles.
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