Sept. 14, 2021—Group 1 Automotive, an automotive retailer with 188 dealerships announced an agreement to purchase Prime Automotive Group, a northeastern-based company that operates three collision repair shops and 30 dealerships.
"Group 1 has successfully operated in the Northeastern U.S. for many years. We are pleased to have this opportunity to leverage our existing cost structure and to further diversify our U.S. footprint," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer.
Once the acquisition is completed, Group 1's consolidated brand mix is expected to be approximately 43 percent luxury, 36 percent non-luxury import, and 21 percent non-luxury domestic.
