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You are here: Home / News / Group 1 Automotive Agrees to Acquire Inchcape U.K. Auto Dealerships

Group 1 Automotive Agrees to Acquire Inchcape U.K. Auto Dealerships

April 15, 2024 By CollisionWeek Editor

Group 1 Automotive, Inc. (NYSE: GPI) announced an agreement to acquire the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape plc for approximately $439 million (£346 million) in an all-cash transaction, inclusive of $279 million (£220 million) of appraised real estate value.  In 2023, the Inchcape U.K. dealerships generated approximately $2.7 billion USD (£2.1 billion) in annual revenues.

Group 1 logoThe transaction is subject to the receipt of approval from the UK Financial Conduct Authority and is expected to close in the third quarter of 2024.

Group 1’s President and Chief Executive Officer Daryl Kenningham stated,

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Filed Under: News Tagged With: Acquisitions, Group 1, United Kingdom

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