Group 1 Automotive Acquires Two BMW/MINI dealerships in New Mexico
Group 1 Automotive, Inc. (GPI)
Last group 1 automotive, inc. earnings: 2/5 07:07 am
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Source: PR Newswire
HOUSTON, July 8, 2019 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today announced the expansion of its business presence in the New Mexico market with the acquisition of two BMW/MINI dealerships. The dealerships are located in Albuquerque and Santa Fe, and represent the only BMW and MINI franchises in the state of New Mexico. Also included in the acquisition are BMW Motorrad franchises in Albuquerque and Santa Fe, making Group 1 the exclusive seller of BMW Motorcycles in New Mexico. These stores are Group 1's first motorcycle franchises in the U.S., adding to the existing relationship with BMW Motorrad in the U.K and Brazil. The dealerships are expected to generate approximately $100 million in annualized revenue."We are pleased to expand our dealership footprint in the fast-growing New Mexico market and increase our long standing partnership with BMW," said Earl J. Hesterberg, Group 1's president and chief executive offic
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