Group 1 Automotive has purchased a 12-store dealership group in the United Kingdom, bumping its store count in the country to 43, the retailer announced Wednesday.
Beadles Group Ltd. includes seven brands throughout its dozen stores in the greater London area: Jaguar, Land Rover, Kia, Skoda, Toyota, Vauxhall, and Volkswagen.
These stores will keep the Beadles name.
"The Beadles Group is a great fit for Group 1, as we further expand our footprint and brand portfolio in the UK. Beadles was established in 1893 and incorporated in 1915 and has an outstanding reputation for customer service and satisfaction," Group 1 chief executive Earl Hesterberg said in a news release. “This acquisition bolsters our scale, provides additional management resources, and introduces new brand partnerships in the UK. We are also pleased to grow our existing relationships with key brand partners.
"With this addition, our UK operations are estimated to generate over $2 billion in annualized revenues," he said.
The 12 dealerships themselves are expected to pull in annualized revenue of $330 million.
