Group 1 Automotive Acquires 6 Southern Franchises
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HOUSTON –
Group 1 Automotive this week announced its acquisition of Jay Automotive Group Inc. in Columbus, Ga.
The move includes franchises Jay Toyota Scion; Jay Buick GMC; Jay Subaru of Columbus; Jay Mazda; and Volvo of Columbus.
The dealerships, which will operate as Rivertown Toyota; Rivertown Scion; Rivertown Buick GMC; Rivertown Subaru; Rivertown Mazda; and Volvo of Columbus, are expected to generate $150 million in estimated annual revenues.
"Upon entering the Columbus market last December with the Rivertown Ford acquisition, we found both the city and people to be very welcoming," said Earl Hesterberg, Group 1 president and chief executive officer.
"We are delighted to build scale and offer a wider selection of automotive brands in such a thriving community," he said.
Group 1 has acquired more than $1.3 billion in annualized revenues in 2013, the company reported, and owns and operates 148 auto dealerships, 188 franchises, and 37 collision centers in the U.S., United Kingdom and Brazil.
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