Group 1 Automotive, one of the biggest car retailers, recently announced they have purchased five new Volkswagen franchises within the Untied Kingdom and also sold three franchises that operate several auto brands.
The new transaction includes four VW franchises and a VW commercial vehicle franchise located in Essex, east of London, in Chelmsford, Colchester, Romford and Southend.
"This territory is contiguous with several other existing automotive dealerships currently owned and operated by Group 1 Automotive in the UK," the company said in a statement.
This acquisition is expected to generate approximately US$115 million in annual revenue.
Group 1's UK operations now consist of 49 dealerships (65 franchises) with 11 brands (Audi, BMW, Ford, Jaguar, Kia, Land Rover, Mini, Seat, Skoda, Toyota, and VW CVs).
"We are pleased to further expand our global relationship with VW through the addition of these five franchises to our growing UK platform," said Earl Hesterberg, Group 1's President and CEO.
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