Group 1 Automotive announced Friday it has signed a definitive agreement to acquire dealerships and real estate from Hennessy Automobile Companies. This purchase will significantly expand Group 1’s presence in Atlanta. — An international dealership based in Houston, Texas, will expand its footprint in Atlanta’s auto market with a deal to purchase 10 Hennessy Automotive Companies.
Group 1 Automotive announced Friday it has signed the agreement to acquire dealerships and real estate from Hennessy Automobile Companies.
“The Hennessy family has a tremendous reputation in Atlanta. We feel privileged to purchase this world class business. We thank the Hennessy family for trusting Group 1 with the transaction,” said Daryl Kenningham, President and Chief Executive Officer of Group 1 Automotive.
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The transaction will include dealerships and facilities containing 500 service bays staffed by approximately 280 technicians. It is expected to generate approximately $1.7 billion in annualized revenue.
Here is a list of the 10 Hennessy Automotive Dealerships Group 1 will acquire.
- Porsche North Atlanta
- Porsche Atlanta Northwest
- Lexus of Gwinnett
- Lexus of Atlanta
- JLR Buckhead
- Land Rover North Atlanta
- Land Rover Gwinnett
- Honda of Woodstock
- Hennessy Cadillac
- Hennessy Ford Lincoln
Group 1 owns and operates 251 automotive dealerships, 312 franchises, and 32 collision centers in the United States and the United Kingdom that offer 37 brands of automobiles.
This purchase, along with the recent acquisitions of Stone Mountain Honda and Stone Mountain Toyota, will expand Group 1’s Atlanta presence from three to 15 dealerships.
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