Group 1 buys Texas VW store
Automotive retailer Group 1 Automotive Inc. today announced the acquisition of Rod East Volkswagen in San Antonio, Texas. Terms were not disclosed.
The dealership is expected to contribute $48.5 million in annual revenues and will be renamed Volkswagen of Alamo Heights, Group 1 said.
"The addition of Volkswagen of Alamo Heights will augment our existing Freedom Chevrolet dealership in the San Antonio, Texas, market," Group 1 CEO Earl Hesterberg said in a statement. "This makes the fourth Volkswagen franchise we have added to our diversified portfolio during the last 12 months."
Group 1, with 110 automotive dealerships selling 31 brands, holds 142 franchises and operates 28 collision centers in the United States and the United Kingdom. Group 1, based in Houston, ranks No. 4 on the Automotive News list of the top 125 dealership groups in the United States with 2010 new-vehicle sales of 97,511.
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