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HOUSTON — Group 1 Automotive revealed Wednesday the company gained a franchise dealership located within the market of its headquarters while selling off another franchise operation in Florida.

Executives announced they've been awarded a Mini franchise to complement BMW of Clear Lake, an existing dealership near Houston. They expect to begin selling Mini vehicles out of a newly constructed, exclusive showroom at this dealership site next month.

Group 1 projects the Mini franchise should generate an additional $11 million in estimated annual revenues.

Meanwhile, the company also sold its Pines Ford Lincoln Mercury dealership in Pembroke Pines, Fla.

Executives recounted the three franchises within the Pines Ford Lincoln Mercury dealership generated $51.7 million of trailing-12-month revenues. They believe the transaction will incur approximately $5 million in pretax exit costs associated with losses on the sale of the dealership property and assets.

Including these two announcements, Group 1 indicated that thus far this year it has acquired nine franchises with $253.2 million in total estimated annual revenues and has disposed of three franchises with $51.7 million in total trailing 12-month revenues.

In addition to the costs associated with the Pines disposal, Group 1 also anticipates incurring approximately $1.4 million in pretax non-cash asset impairment charges for other domestic dealership properties during the second quarter of this year.