Group 1 Automotive Inc. has expanded its presence in the Northeast by acquiring several import automobile dealerships.
The Houston-based automotive retailer has acquired Marty Sussman Acura of Maple Shade, N.J., serving the Philadelphia market area; as well as Sussman Honda/Marty Sussman BMW and Sussman Acura of Atlantic City. The dealerships have been renamed Elite Acura, Boardwalk Honda/BMW of Atlantic City and Boardwalk Acura.
Group 1 expects the dealerships to contribute $135 million in annual revenue.
“These acquisitions expand our import brand offerings and geographical presence in the Northeast,” says Earl Hesterberg, Group 1 president and CEO. “We are pleased to enter these two fast-growing market areas and will continue to look at attractive acquisition opportunities as they present themselves.”
So far during 2006, the company has acquired one domestic franchise and 14 import franchises, which are expected to contribute $732 million in estimated annual revenue.
