Dealer news: Group 1 makes major acquisition in Maryland; Zeigler Auto on stage twice at Daytona
Group 1 Automotive made a big move to expand its holdings in the Baltimore-Washington market with the acquisition of Maryland-based RRR Automotive Group.
The sale includes five new-car dealerships representing Toyota, Honda, Hyundai and Kia, as well as a Toyota certified pre-owned center and three collision centers. Group 1 said the Honda stores included in the deal — Honda of Owings Mills and Honda of Greenbelt — are that brand’s top two volume dealerships in Maryland.
The Houston-based company, which operates 198 dealerships in the U.S. and U.K., said the newly acquired locations are expected to generate more than $500 million in annual revenues.
Kerrigan Advisors, which represented the seller in the deal, said the RRR dealerships have claimed a 48% share of non-luxury import sales since 2019 in Bowie, College Park, Greenbelt and Owings Mills, where its stores are located. Overall, it said, the D.C. market skews heavily toward import brands, which have a 72% market share.
“These dealerships are some of the best brands in our portfolio and we are very proud to grow our relationship with Toyota, Honda, Kia and Hyundai.” Group 1 president and CEO Daryl Kenningham said in a news release. “We believe, given our proven operational and acquisition integration track record, that this acquisition presents an opportunity to further drive profitable growth for our stockholders.”
Group 1 also said it has “disposed of” 10 franchises and a collision center in Beaumont, Texas during the first quarter of 2024, moves it said are consistent with its strategy to focus on larger, higher performing dealerships.
Big weekend at Daytona for Zeigler Auto Group
Zeigler Auto Group will be in the spotlight twice at Daytona International Speedway this weekend.
The Kalamazoo, Mich.-based dealership group’s logo will be featured in Saturday’s United Rental 300 NASCAR Xfinity Series race on Josh Bilicki’s DGM Racing No. 92 Chevrolet Camaro. That’s a lead-in to the main event — the Daytona 500 on Sunday — when Zeigler will be co-primary sponsor for Carson Hocevar in the Spire Motorsports No. 77 Camaro ZL.
The Daytona 500 will be broadcast live on Fox at 2:30 p.m. EST Sunday.
Aaron Zeigler, CEO and owner of Zeigler Racing and Zeigler Auto Group, said the 500 marks the debut of the No. 77 Zeigler.com Camaro.
In honor of the new partnership, Zeigler is launching “Convos with Carson,” an online video series with Hocevar that gives fans an opportunity to ask the NASCAR driver questions.
“Zeigler is going to be the perfect fit across the board,” Hocevar said. “I’m eager to kick off this partnership in the biggest race of the year and not only represent my hometown, but have the support of Zeigler.”
Zeigler Auto Group operates 41 locations in Wisconsin, Illinois, Indiana and Michigan.