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Tuesday, 26 November 2013 01:07

Group 1 Buys 3 Dealerships from Moritz in Arlington, TX

Group 1 Automotive Inc. said that it has purchased three dealerships in Arlington, Texas. The retailer acquired the BMW, Mini and Cadillac dealerships from Moritz Dealerships of Dallas and Fort Worth, and it will operate each under the “Arlington” name. Moritz Dealerships will continue to operate its Chrysler, Chevrolet, Dodge, Jeep and Kia dealerships in the area.

“Dallas, Texas, is one of the largest and fastest-growing luxury automobile markets in the United States,” said Group 1 CEO Earl Hesterberg in a statement.

“These well-established businesses will give Group 1 a great platform for growth and will further expand our important, long-term relationship with BMW of North America.” The company, which reported $7.4 billion in revenue in 2012, estimates that the newly acquired dealerships will generate an additional $200 million in annual revenue.

Group 1 of Houston owns 144 dealerships in the United States, the United Kingdom and Brazil. It ranks No. 4 on the Automotive News list of the top 125 dealership groups in the United States, with retail sales of 128,550 new units in 2012.

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