HOUSTON, Aug. 15, 2017 /PRNewswire/ -- Group 1
Automotive, Inc. (NYSE: GPI), an international, Fortune
500 automotive retailer, today announced that it has acquired the
exclusive Audi dealership in Fort Worth,
Texas, which is expected to generate $55 million in estimated annual revenues. The
Company owns and operates 13 Audi dealerships across Florida, Massachusetts, South
Carolina, Texas, and the
United Kingdom.
"We are delighted to expand our relationship with Audi in
the United States and strengthen
our luxury brand representation and overall retail portfolio in the
greater Dallas-Fort Worth
metropolitan area," said Earl J.
Hesterberg, Group 1's president and chief executive
officer.
About Group 1 Automotive, Inc.
Group 1 owns
and operates 174 automotive dealerships,
228 franchises, and 47 collision
centers in the United States, the United
Kingdom and Brazil that offer 32 brands of
automobiles. Through its dealerships, the Company sells new and
used cars and light trucks; arranges related vehicle financing;
sells service contracts; provides automotive maintenance and repair
services; and sells vehicle parts.
Investors please visit www.group1corp.com,
www.group1auto.com,
www.group1collision.com,
www.facebook.com/group1auto, and
www.twitter.com/group1auto, where Group 1 discloses
additional information about the Company, its business, and its
results of operations.
Group 1 Automotive can be reached on the Internet at
www.group1auto.com.
This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, which are statements
related to future, not past, events and are based on our current
expectations and assumptions regarding our business, the economy
and other future conditions. In this context, the forward-looking
statements often include statements regarding our goals, plans,
projections and guidance regarding our financial position, results
of operations, market position, pending and potential future
acquisitions and business strategy, and often contain words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"should," "foresee," "may" or "will" and similar expressions. While
management believes that these forward-looking statements are
reasonable as and when made, there can be no assurance that future
developments affecting us will be those that we anticipate. Any
such forward-looking statements are not assurances of future
performance and involve risks and uncertainties that may cause
actual results to differ materially from those set forth in the
statements. These risks and uncertainties include, among other
things, (a) general economic and business conditions, (b) the level
of manufacturer incentives, (c) the future regulatory environment,
(d) our ability to obtain an inventory of desirable new and used
vehicles, (e) our relationship with our automobile manufacturers
and the willingness of manufacturers to approve future
acquisitions, (f) our cost of financing and the availability of
credit for consumers, (g) our ability to complete acquisitions and
dispositions and the risks associated therewith, (h) foreign
exchange controls and currency fluctuations, and (i) our ability to
retain key personnel. For additional information regarding known
material factors that could cause our actual results to differ from
our projected results, please see our filings with the SEC,
including our Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date hereof. We undertake no obligation to publicly
update or revise any forward-looking statements after the date they
are made, whether as a result of new information, future events or
otherwise.
Investor contacts:
Sheila
Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | sroth@group1auto.com
Media contacts:
Pete
DeLongchamps
V.P. Manufacturer Relations, Financial Services and Public
Affairs
Group 1 Automotive, Inc.
713-647-5770 | pdelongchamps@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223 | cwoods@piercom.com
View original
content:http://www.prnewswire.com/news-releases/group-1-automotive-acquires-audi-dealership-in-fort-worth-texas-300504272.html
SOURCE Group 1 Automotive, Inc.