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Group 1 Automotive Announces the Acquisition of Soper of Lincoln BMW/MINI in the U.K.

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Group 1 Automotive, Inc. (NYSE: GPI) has announced the acquisition of Soper of Lincoln BMW/MINI in Lincolnshire, U.K., expanding its operations in the country. The acquisition is expected to generate approximately $125 million in annual revenues. This addition brings Group 1's 2024 year-to-date acquired revenues to $3.9 billion, following $1.1 billion of acquired revenues in 2023.

Group 1 Automotive is a Fortune 250 automotive retailer with 260 dealerships across the U.S. and U.K. The company owns and operates 338 franchises and 44 collision centers, offering 35 automobile brands. Group 1 provides services including new and used car sales, vehicle financing, service and insurance contracts, automotive maintenance and repair, and vehicle parts sales.

Group 1 Automotive, Inc. (NYSE: GPI) ha annunciato l'acquisizione di Soper of Lincoln BMW/MINI a Lincolnshire, Regno Unito, ampliando le proprie operazioni nel paese. Si prevede che l'acquisizione genererà circa 125 milioni di dollari di ricavi annuali. Questa aggiunta porta i ricavi acquisiti di Group 1 per il 2024 a 3,9 miliardi di dollari, dopo 1,1 miliardi di dollari di ricavi acquisiti nel 2023.

Group 1 Automotive è un rivenditore automobilistico della Fortune 250 con 260 concessionarie negli Stati Uniti e nel Regno Unito. L'azienda possiede e gestisce 338 franchising e 44 centri di collisione, offrendo 35 marchi automobilistici. Group 1 fornisce servizi tra cui vendite di auto nuove e usate, finanziamento veicoli, contratti di servizio e assicurazione, manutenzione e riparazione automobilistica, e vendita di ricambi per veicoli.

Group 1 Automotive, Inc. (NYSE: GPI) ha anunciado la adquisición de Soper of Lincoln BMW/MINI en Lincolnshire, Reino Unido, expandiendo sus operaciones en el país. Se espera que la adquisición genere aproximadamente 125 millones de dólares en ingresos anuales. Esta adición lleva los ingresos adquiridos de Group 1 para 2024 a 3.9 mil millones de dólares, tras 1.1 mil millones de dólares en ingresos adquiridos en 2023.

Group 1 Automotive es un minorista automotriz de la Fortune 250 con 260 concesionarios en los EE. UU. y el Reino Unido. La empresa posee y opera 338 franquicias y 44 centros de colisiones, ofreciendo 35 marcas de automóviles. Group 1 proporciona servicios que incluyen ventas de automóviles nuevos y usados, financiamiento de vehículos, contratos de servicio y seguros, mantenimiento y reparación automotriz, y ventas de piezas de vehículos.

Group 1 Automotive, Inc. (NYSE: GPI)는 영국 링컨셔에 있는 Soper of Lincoln BMW/MINI의 인수를 발표하며, 이로써 해당 국가에서의 운영을 확대하게 되었습니다. 이번 인수는 연간 약 1억 2500만 달러의 수익을 창출할 것으로 예상됩니다. 이 추가로 인해 Group 1의 2024년 기준 인수 수익 총액은 39억 달러에 달하게 됩니다, 이는 2023년의 11억 달러 인수 수익에 이어지는 것입니다.

Group 1 Automotive는 미국과 영국에 260개의 딜러십을 가진 Fortune 250 자동차 소매업체입니다. 회사는 338개의 프랜차이즈와 44개의 사고 수리 센터를 소유 및 운영하며, 35개의 자동차 브랜드를 제공합니다. Group 1은 신규 및 중고차 판매, 차량 금융, 서비스 및 보험 계약, 자동차 유지보수 및 수리, 그리고 자동차 부품 판매 등 다양한 서비스를 제공합니다.

Group 1 Automotive, Inc. (NYSE: GPI) a annoncé l'acquisition de Soper of Lincoln BMW/MINI à Lincolnshire, au Royaume-Uni, élargissant ainsi ses opérations dans le pays. Cette acquisition devrait générer environ 125 millions de dollars de revenus annuels. Cet ajout porte les revenus acquis de Group 1 pour 2024 à 3,9 milliards de dollars, après 1,1 milliard de dollars de revenus acquis en 2023.

Group 1 Automotive est un détaillant automobile de la Fortune 250 avec 260 concessions aux États-Unis et au Royaume-Uni. L'entreprise possède et exploite 338 franchises et 44 centres de collision, offrant 35 marques automobiles. Group 1 propose des services allant de la vente de voitures neuves et d'occasion à la finance automobile, des contrats de service et d'assurance, de l'entretien et des réparations automobiles, ainsi que la vente de pièces détachées pour véhicules.

Group 1 Automotive, Inc. (NYSE: GPI) hat die Übernahme von Soper of Lincoln BMW/MINI in Lincolnshire, Großbritannien, bekannt gegeben, wodurch die Geschäftstätigkeit im Land ausgeweitet wird. Es wird erwartet, dass die Übernahme etwa 125 Millionen Dollar Jahresumsatz generiert. Diese Ergänzung bringt die 2024 bis dato erworbenen Einnahmen von Group 1 auf 3,9 Milliarden Dollar, nach 1,1 Milliarden Dollar an erworbenen Einnahmen im Jahr 2023.

Group 1 Automotive ist ein Fortune 250 Automobilhändler mit 260 Vertriebsstellen in den USA und dem Vereinigten Königreich. Das Unternehmen besitzt und betreibt 338 Franchises und 44 Unfallinstandsetzungszentren und bietet 35 Automarken an. Group 1 bietet Dienstleistungen an, die den Verkauf von Neuwagen und Gebrauchtwagen, Fahrzeugfinanzierung, Service- und Versicherungsverträge, Automobilwartung und -reparatur sowie Verkäufe von Fahrzeugteilen umfassen.

Positive
  • Acquisition of Soper of Lincoln BMW/MINI expected to generate $125 million in annual revenues
  • Year-to-date acquired revenues reach $3.9 billion in 2024
  • Expansion of operations in the U.K. market
  • Strong relationship with the manufacturer in the market area
Negative
  • None.

Insights

Group 1 Automotive's acquisition of Soper of Lincoln BMW/MINI is a strategic move that expands their U.K. presence and adds approximately $125 million in annual revenues. This acquisition contributes to their impressive $3.9 billion in acquired revenues for 2024 YTD, following $1.1 billion in 2023. The company's aggressive expansion strategy is evident, potentially boosting market share and diversifying their portfolio. However, investors should consider integration costs and potential synergies. The deal strengthens Group 1's relationship with BMW and MINI, possibly leading to future opportunities. With 260 dealerships across the U.S. and U.K., this acquisition aligns with their growth trajectory and could enhance their competitive position in the automotive retail sector.

This acquisition signals Group 1 Automotive's confidence in the U.K. market despite potential Brexit-related uncertainties. The Lincolnshire location expands their geographical footprint, potentially tapping into new customer bases. The focus on premium brands like BMW and MINI suggests a strategy targeting higher-margin segments. With 254.5% YoY growth in acquired revenues ($3.9 billion in 2024 vs $1.1 billion in 2023), Group 1 is aggressively scaling. This rapid expansion could lead to economies of scale but also carries integration risks. The company's omni-channel approach, including online platforms like Acceleride, positions them well in the evolving automotive retail landscape. Investors should monitor how this acquisition impacts Group 1's overall market share and profitability in the competitive U.K. auto market.
  • 2024 YTD Acquired Revenues total $3.9 Billion

HOUSTON, Oct. 1, 2024 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), a  Fortune 250 automotive retailer with 260 dealerships located in the U.S. and U.K., today announced the expansion of its U.K. operations with the acquisition of Soper of Lincoln BMW/MINI located north of London in the county of Lincolnshire.  This acquisition is expected to generate approximately $125 million in annual revenues.  

Group 1's Chief Executive Officer Daryl Kenningham stated, "We want to welcome our new teammates from Soper of Lincoln to the Group 1 family and are delighted to expand our operations with these great brands.  Our strong relationship with the manufacturer and our experience in this market area make this a terrific addition to our U.K. operations."

Group 1 has now acquired an estimated $3.9 billion of annual revenues in 2024, which follows $1.1 billion of acquired revenues in 2023.

ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 260 automotive dealerships, 338 franchises, and 44 collision centers in the United States and the United Kingdom that offer 35 brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.

Group 1 discloses additional information about the Company, its business, and its results of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, and www.facebook.com/group1auto.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding, our ability to realize the anticipated benefits of the acquisition and our future financial position following such acquisition, as well as guidance regarding the annualized revenues of recently completed acquisitions. These forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions, on a timely basis, if at all and the risks associated therewith, (h) our ability to realize the benefits expected from proposed acquisitions, including any anticipated cost reductions,(i) foreign exchange controls and currency fluctuations, (j) the armed conflicts in Ukraine and the Middle East, (k) the impacts of continued inflation and any potential global recession, (l) our ability to maintain sufficient liquidity to operate, (m) our ability to successfully integrate recent and future acquisitions, and (n) a material failure in or breach of our vendors' information technology systems and other cybersecurity incidents. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Investor contacts:
Terry Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
ir@group1auto.com

Media contacts:
Pete DeLongchamps
Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com  
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223
cwoods@piercom.com 

Cision View original content:https://www.prnewswire.com/news-releases/group-1-automotive-announces-the-acquisition-of-soper-of-lincoln-bmwmini-in-the-uk-302263368.html

SOURCE Group 1 Automotive, Inc.

FAQ

What is the expected annual revenue from Group 1 Automotive's acquisition of Soper of Lincoln BMW/MINI?

The acquisition of Soper of Lincoln BMW/MINI is expected to generate approximately $125 million in annual revenues for Group 1 Automotive (NYSE: GPI).

How much has Group 1 Automotive (GPI) acquired in total revenues for 2024 so far?

Group 1 Automotive has acquired an estimated $3.9 billion of annual revenues in 2024 year-to-date.

Where is the newly acquired Soper of Lincoln BMW/MINI dealership located?

The newly acquired Soper of Lincoln BMW/MINI dealership is located north of London in the county of Lincolnshire, U.K.

How many dealerships does Group 1 Automotive (GPI) now operate after this acquisition?

After the acquisition, Group 1 Automotive operates 260 automotive dealerships across the United States and the United Kingdom.

Group 1 Automotive, Inc.

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