Group 1 Automotive Acquires Ford Dealerships In The United Kingdom
HOUSTON, Feb. 27, 2013
HOUSTON, Feb. 27, 2013 /PRNewswire/ --Group 1 Automotive, Inc. (NYSE: GPI),
an international, Fortune 500 automotive retailer, today announced that it
acquired four Ford dealerships southwest of London in the U.K. that are
expected to generate approximately $177 million in estimated annual revenues.
The dealerships will trade under the "think Ford" brand name and are located
in the towns of Farnborough, Guildford, Wokingham and Bracknell. They will
complement Group 1's existing BMW/MINI dealerships located in Farnborough and
other adjacent market areas south and southwest of London.
"We are delighted to add Ford to our brand offerings in England with this
acquisition of four dealerships in a growing area outside of London," said
Earl J. Hesterberg, Group 1's president and chief executive officer. "We are
also very pleased to expand our relationship with Ford Motor Company
About Group 1 Automotive, Inc.
Group 1 owns and operates 124 automotive dealerships, 160 franchises, and 32
collision centers in the United States and the United Kingdom that offer 31
brands of automobiles. Through its dealerships, the company sells new and used
cars and light trucks; arranges related vehicle financing, service and
insurance contracts; provides automotive maintenance and repair services; and
sells vehicle parts.
Group 1 Automotive can be reached on the Internet at www.group1auto.com.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, which are statements
related to future, not past, events and are based on our current expectations
and assumptions regarding our business, the economy and other future
conditions. In this context, the forward-looking statements often include
statements regarding our goals, plans, projections and guidance regarding our
financial position, results of operations, market position, pending and
potential future acquisitions and business strategy, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes," "seeks,"
"should," "foresee," "may" or "will" and similar expressions. While management
believes that these forward-looking statements are reasonable as and when
made, there can be no assurance that future developments affecting us will be
those that we anticipate. Any such forward-looking statements are not
assurances of future performance and involve risks and uncertainties that may
cause actual results to differ materially from those set forth in the
statements. These risks and uncertainties include, among other things, (a)
general economic and business conditions, (b) the level of manufacturer
incentives, (c) the future regulatory environment, (d) our ability to obtain
an inventory of desirable new and used vehicles, (e) our relationship with our
automobile manufacturers and the willingness of manufacturers to approve
future acquisitions, (f) our cost of financing and the availability of credit
for consumers, (g) our ability to complete acquisitions and dispositions and
the risks associated therewith, (h) foreign exchange controls and currency
fluctuations, and (i) our ability to retain key personnel. For additional
information regarding known material factors that could cause our actual
results to differ from our projected results, please see our filings with the
SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the date
hereof. We undertake no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as a result
of new information, future events or otherwise.
Kim Paper Canning
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | email@example.com
V.P. Financial Services and Manufacturer Relations
Group 1 Automotive, Inc.
713-647-5770 | firstname.lastname@example.org
Pierpont Communications, Inc.
713-627-2223 | email@example.com
SOURCE Group 1 Automotive, Inc.
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