Group 1 Automotive, Inc., confirmed that it is expanding its business footprint in the Massachusetts market with the acquisition of two Toyota dealerships.
Located in Hyannis and Orleans on Cape Cod, these dealerships are expected to produce approximately $120 million in annualized revenues.
"We are excited to grow our scale in New England with two additional stores and expand our long-standing partnership with Toyota," Earl J. Hesterberg, Group 1's president and chief executive officer, told PR Newswire.
With these latest acquisitions, Group 1's total number of U.S. Toyota dealership is now 15 and grows the total representation in New England to ten dealerships, which include the Audi, BMW, Lexus, Subaru and Toyota brands.
The company currently owns and operates 184 automotive dealerships, 237 franchises and 49 collision centers in the United States, the United Kingdom and Brazil, which offer more than 30 brands of cars, according to PR Newswire. Group 1 Automotive also offers vehicle financing.
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