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Group 1 Automotive Acquires High Volume Toyota Dealership In Austin, Texas

Mar 07, 2022•almost 4 years ago

Acquiring Company

Group 1 Automotive

Acquired Company

Longo Toyota

HoustonEl MonteManufacturingRetail

Description

Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), an international, Fortune 300 automotive retailer with 201 dealerships located in the U.S. and U.K., today announced the acquisition of Charles Maund Toyota in Austin, Texas. The dealership, which will be renamed Toyota of North Austin, is ranked in the top 20 nationally in Toyota new vehicle volume, and adds to the Company's strong portfolio of 13 franchises in the fast-growing Central Texas market area consisting of Austin and San Antonio. This dealership is expected to generate $435 million in annual revenues and represents the 16th Toyota store in the Company's U.S. portfolio.

Company Information

Company

Group 1 Automotive

Location

Houston, Texas, United States

About

Group 1 owns and operates 259 automotive dealerships, 324 franchises and 39 collision centers in the United States and the United Kingdom that offer 36 brands of automobiles. Through its dealerships and omni-channel platform, 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.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed