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Annapolis dealership acquired
Daily Record, The (Baltimore), May 7, 2008
Group 1 Automotive Inc., of Houston, one of the largest automotive retailers in the United States, announced that it has acquired Tate BMW/MINI in Annapolis for an undisclosed amount. The acquisition is expected to generate $73 million in estimated annual revenue, according to the Texas company.
Group1 said it purchased the dealership as part of an effort to expand its import and luxury- brand portfolio. It will operate the dealership as BMW/MINI of Annapolis under its Eastern region. Group 1 said so far this year. it has acquired three franchises with $82.5 million in estimated annual revenues, and has a full-year target of $300 million.
Copyright 2008 Dolan Media Newswires
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