Group 1 Automotive acquires three dealerships in Florida and Texas

Group 1 Automotive (GPI) “announced the addition of three dealerships to its luxury brand portfolio. The three dealerships-a Lexus and an Acura dealership in Florida and a Mercedes-Benz dealership in Texas-complement the Company’s existing operations and support growth in the Company’s key “cluster” markets. The Lexus and Acura dealerships are located in the fast-growing city of Fort Myers in Southwest Florida, expanding the Company’s footprint in this market to three dealerships. The acquisition of Mercedes-Benz of South Austin further strengthens the Company’s presence in the Austin area, increasing the Company’s footprint to eight dealerships. The dealerships are expected to generate $330 million in annual revenues. The Company also provided an update on its year-to-date repurchase activity. Through May 19, 2025, 401,649 shares at an average price of $416.62, for a total of $167.3 million have been repurchased.”