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July 6, 2021, 6:23 a.m. EDT

Group 1 Automotive expects to add about $300 million in annual revenue from acquisition of 9 franchises in the U.K.

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By Ciara Linnane

Group 1 Automotive Inc. /zigman2/quotes/202697225/composite GPI +2.33% said Tuesday it has acquired nine franchises in the U.K. northeast of London from the Robinsons Motor Group and expects to add $300 million to annual revenue. The operator of dealerships selling new and used cars said the franchises are the family of brands offered by the Volkswagen Group /zigman2/quotes/206736865/delayed DE:VOW -0.30% , along with one Citroen dealership, with locations in the cities of Norwich, Peterborough, Lowestoft and Ipswich. Robinsons already sold Group 1 five Mercedes dealerships in 2018. Group 1 now hast 55 locations in the U.K. with 75 franchises representing 14 brands. Shares were not active premarket, but have gained about 26% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% as gained about 16%.

/zigman2/quotes/202697225/composite
US : U.S.: NYSE
$ 183.48
+4.17 +2.33%
Volume: 161,309
Oct. 19, 2021 4:00p
P/E Ratio
6.54
Dividend Yield
0.70%
Market Cap
$3.24 billion
Rev. per Employee
$879,614
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/zigman2/quotes/206736865/delayed
DE : Germany: Frankfurt
265.00
-0.80 -0.30%
Volume: 62.00
Oct. 20, 2021 1:50p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€354,929
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/zigman2/quotes/210599714/realtime
US : S&P US
4,519.63
+33.17 +0.74%
Volume: 1.70B
Oct. 19, 2021 5:05p
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