Group 1 on Monday said it bought a Honda dealership in northern California. The fourth-largest new-vehicle retailer acquired Mel Rapton Honda in Sacramento from siblings Katina Rapton and Curtis Rapton, according to local media reports.
Cushman & Wakefield Dealership Capital Services advised the sellers in the Honda transaction.
Group 1 said the California store is expected to generate about $85 million in annual revenue. It was renamed Capital City Honda.
"We're extremely pleased to welcome the team at Capital City Honda to the Group 1 family," Daryl Kenningham, Group 1's president of U.S. and Brazil operations, said in a release. "We're looking forward to expanding our relationship with Honda and the local community in Sacramento."
Group 1 in October bought two dealerships in Denton, Texas. So far this year, Group 1 has purchased dealerships expected to generate $655 million in annual revenue. The pending acquisition of 30 dealerships from Prime Automotive Group, expected to close next month, will bring the Houston dealership group's acquired revenue to $2.5 billion.
With the Sacramento purchase, Group 1's U.S. location count is 120 dealerships. It ranks No. 4 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 140,221 new vehicles in 2020.