Group 1 Automotive, Inc., an international, Fortune 300 automotive retailer with 206 dealerships located in the U.S. and U.K., announced the expansion of its Texas operations with the acquisition of three Beck & Masten Buick-GMC dealerships.
Two of the dealerships are located in the Houston market and are among the highest volume dealerships in their brand in the U.S. The third dealership is located in the Corpus Christi metro area and is the highest volume Buick-GMC dealership in its market.
The acquisition adds to the company’s strong portfolio of 15 dealerships in the Houston market and 55 dealerships in the state of Texas. The dealerships are expected to generate $760 million in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $910 million.
Group 1’s President and CEO Daryl Kenningham stated, “We want to welcome our new teammates from Beck & Masten to the Group 1 family and are pleased to further expand our footprint in our successful Texas operations. GMC has outstanding truck and SUV products and fits perfectly into these important Texas truck markets. Buick’s products are poised to be leaders in the transition to vehicle electrification. Texas continues to be the fastest growing state in the U.S. and Houston, home to several of our largest and most profitable dealerships, is the second fastest growing major metropolitan area in the U.S. The addition of these dealerships builds on our growth story at Group 1.”