Group 1 Automotive acquires 3 new dealerships in Houston, Corpus Christi
Beck and Masten in Houston are two of the highest volume dealerships in the U.S. for Buick-GMC, and in Corpus Christi it is the highest volume Buick-GMC dealership, according to Group 1.
"GMC has outstanding truck and SUV products and fits perfectly into these important Texas truck markets. Buick's products are poised to be leaders in the transition to vehicle electrification," CEO Daryl Kenningham said in a statement."Texas continues to be the fastest growing state in the U.S. and Houston, home to several of our largest and most profitable dealerships, is the 2nd fastest growing major metropolitan area in the U.S.
The acquisition marks an expansion into a brand that has traditionally played a small role in Group 1's brand mix. In both 2021 and 2022, Chevrolet, GMC, Buick and Cadillac accounted for 6.6 percent of the retailer's new vehicle sales, while Toyota and Lexus were responsible for nearly a quarter. Late last month, Group 1 said it also would expand its Chevrolet business by acquiring a dealership near Fort Myers, Fla., that's expected to generate $150 million in annual revenue.
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