HOUSTON, April 16, 2018 /PRNewswire/ -- Group 1
Automotive, Inc. (NYSE: GPI), ("Group
1" or the "Company"), an international, Fortune 500 automotive
retailer, today announced the acquisition of a new Toyota market
area in western São Paulo, Brazil
as well as a major expansion to an existing Honda dealership
located in the São Paulo suburb of São Bernardo do Campo.
The acquisition of the new Toyota sales territory was triggered
by the purchase of selected assets of Toyota Alpha Trevo Automoveis
Ltda, an existing Toyota dealership in the western São Paulo suburb
of Alphaville. Under Group 1, the business will operate as
T-Drive Toyota Alphaville and is expected to generate $45M in annualized revenues. In conjunction
with this acquisition, Group 1 has been awarded several additional
new Toyota points of representation within the São Paulo
metropolitan market. Information regarding the locations and
names of these operations will be announced when the points are
activated. T-Drive Toyota Alphaville becomes Group 1's fourth
Toyota dealership in Brazil with
operations commencing on April 16,
2018.
"Toyota is the largest brand partner for our company overall and
we are excited to significantly expand our relationship in
Brazil. We see great growth potential for our existing stores
and the new opportunities associated with this acquisition will
provide a large Toyota operating footprint for us throughout
Brazil's largest city," said
Earl J. Hesterberg, Group 1's
president and chief executive officer.
The Company also announced a major expansion and relocation of
one of its key São Paulo Honda
dealerships located in the suburb of São Bernardo do Campo.
Group 1 is the largest retailer of Honda vehicles in Brazil and operates four dealerships in the
greater São Paulo metropolitan area. "We have enjoyed great
success with the Honda brand in Brazil, even during the severe market
downturn. The relocation of Honda São Bernardo do Campo to a much
larger facility with freeway visibility will likely enable us to
double our revenue for this dealership in a fairly short period of
time," added Hesterberg.
Group 1 operates 17 dealerships in Brazil, which includes seven existing brands
(BMW, Honda, Jaguar, Land Rover, MINI, Mercedes-Benz, and
Toyota).
About Group 1 Automotive, Inc.
Group 1 owns
and operates 181 automotive dealerships,
239 franchises, and 48 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.
Investor Contacts:
Sheila
Roth
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | sroth@group1auto.com
Media Contacts:
Pete
DeLongchamps
Senior 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
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SOURCE Group 1 Automotive, Inc.