Group 1 adds 4 U.K. Ford stores
Group 1 Automotive Inc. continued to expand its overseas portfolio last week by acquiring four Ford dealerships in the United Kingdom.
The dealerships, which are expected to generate about $177 million in annual revenues, are being acquired from Inchcape Retail Ltd., one of the United Kingdom's largest dealership groups.
Financial terms of the deal were undisclosed.
In January, Group 1 announced plans to acquire Brazil's UAB Motors Participacoes, a group of 18 stores.
The U.K. stores will operate under the Think Ford brand name and are southwest of London in the towns of Farnborough, Guildford, Wokingham and Bracknell, Group 1 said.
Group 1 owns and operates BMW-Mini and Audi dealerships in the United Kingdom.
Group 1, the fourth-largest dealership group in the United States, has been targeting domestic and overseas acquisitions to take advantage of the rebound in new-vehicle sales.
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