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

Group 1 Automotive Inc. /zigman2/quotes/202697225/composite GPI +0.24% 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 +0.28% , 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 +0.25% as gained about 16%.

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Group 1 Automotive Inc.

US : U.S.: NYSE

$ 206.94

+0.50 +0.24%

Volume: 228,847

Jan. 27, 2023 4:00p

P/E Ratio

4.40

Dividend Yield

0.72%

Market Cap

$3.02 billion

Rev. per Employee

$1.18M

/zigman2/quotes/206736865/delayed

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Volkswagen AG

DE : Germany: Frankfurt

€ 161.00

+0.45 +0.28%

Volume: 1,374

Jan. 27, 2023 10:59p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

€354,929

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,070.56

+10.13 +0.25%

Volume: 0.00

Jan. 27, 2023 5:10p