“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.