Group 1 Acquires Prime Automotive Group

By Staff Writer September 14, 2021

Group 1 Automotive, an automotive retailer with 188 dealerships in the U.S., U.K., and Brazil, announced it has entered into a definitive agreement to purchase substantially all the assets, including real estate, of Prime Automotive Group, headquartered in Westwood, Mass.  In 2020, the corresponding Prime dealerships generated $1.8 billion in annual revenues and retailed over 52,000 new and used vehicles.  

“Group 1 has successfully operated in the Northeastern U.S. for many years. We are pleased to have this opportunity to leverage our existing cost structure and to further diversify our U.S. footprint,” said Earl J. Hesterberg, Group 1’s president and chief executive officer.

With 30 dealership locations and three collision centers in the Mid-Atlantic and New England markets, Prime’s brand portfolio includes Acura, Airstream, Audi, BMW, Buick, Chrysler, Dodge, Ford, GMC, Honda, Jeep, Land Rover, Mazda, Mercedes-Benz, MINI, Porsche, RAM, Subaru, Toyota, Volkswagen and Volvo. Once the acquisition is completed, Group 1’s consolidated brand mix is expected to be approximately 43% luxury, 36% non-luxury import, and 21% non-luxury domestic.

“We know Prime’s markets well and the opportunities they represent,” said Daryl Kenningham, president of U.S. and Brazilian operations for Group 1. “We are also proud to welcome Prime Automotive’s 1,800 employees as new teammates to the Group 1 family. 

“The addition of Prime Automotive enables us to extend our reach of AcceleRide, Group 1’s industry leading digital retailing process, to even more customers,” 

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Last modified on Monday, 20 September 2021 13:55