News & Events zu Group 1 Automotive Inc (GPI)GPIGroup 1 Automotive Inc

Group 1 Automotive Acquires Hennessy Automotive Assets for Approximately $1.3 Billion

Group 1 Automotive announced it has signed a definitive agreement to acquire the dealership assets and real estate of Hennessy Automobile Companies, expanding the company's presence in the Atlanta metropolitan market. The transaction includes 10 dealerships, a brand portfolio that contains luxury and import brands, including Lexus, Jaguar/Land Rover and Porsche, and facilities containing 500 service bays staffed by approximately 280 technicians. It is expected to generate approximately $1.7B in annualized revenue and be immediately accretive to the company's earnings per share upon closing. The Hennessy acquisition is valued at approximately $1.3B inclusive of blue sky, real estate and operating assets. Group 1 plans to finance the transaction with new debt, backstopped by a bridge commitment. The transaction is expected to close by year-end 2026, subject to regulatory approvals, OEM approvals and customary closing conditions.

Group 1 Automotive Appoints Daniel McHenry as President and CEO of UK Business

Group 1 Automotive appointed Daniel McHenry as President and CEO of its UK business, effective May 19. Prior to becoming CFO for Group 1, Daniel spent 13 years in Group 1's UK Operations. He will lead the UK business while continuing in his CFO role. McHenry replaces Mark Raban, who is leaving the company after two years as the head of the UK business.