Group 1 Automotive Acquires BMW Dealership in Mobile, Alabama
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| Posted
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Thu, 05 Nov 2009 21:05:45 GMT |
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Group 1 Automotive Inc. |
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HOUSTON, TX -- 11/05/09 --
Group 1 Automotive, Inc. (NYSE: GPI), a Fortune
500 automotive retailer, today reported it acquired the only BMW franchise
in Mobile, Ala. The dealership will operate as BMW of Mobile, under Group
1's Eastern Region, and is expected to generate an estimated $37.7 million
in annual revenues. BMW of Mobile is located at 3025 Highway 90 West,
approximately three miles from Group 1's existing Pat Peck Nissan
dealership.
Including this acquisition, Group 1 now owns and operates 11 BMW
dealerships in the United States and three in the United Kingdom.
About Group 1 Automotive, Inc.
Group 1 owns and operates 97 automotive dealerships, 129 franchises, and 24
collision service centers in the United States and the United Kingdom that
offer 31 brands of automobiles. Through its dealerships, the company sells
new and used cars and light trucks; arranges related financing, vehicle
service and insurance contracts; provides maintenance and repair services;
and sells replacement parts.
Group 1 Automotive can be reached on the Internet at www.group1auto.com.
This press release contains "forward-looking statements," which are
statements related to future, not past, events. In this context, the
forward-looking statements often include statements regarding our goals,
plans, projections and guidance regarding our financial position, results
of operations, market position, pending and potential future acquisitions
and business strategy, and often contain words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks" or "will." Any such
forward-looking statements are not assurances of future performance and
involve risks and uncertainties that may cause results to differ materially
from those set forth in the statements. These risks and uncertainties
include, among other things, (a) general economic and business conditions,
(b) the level of manufacturer incentives, (c) the future regulatory
environment, (d) our ability to obtain an inventory of desirable new and
used vehicles, (e) our relationship with our automobile manufacturers and
the willingness of manufacturers to approve future acquisitions, (f) our
cost of financing and the availability of credit for consumers, (g) our
ability to complete acquisitions and dispositions and the risks associated
therewith, (h) foreign exchange controls and currency fluctuations, and (i)
our ability to retain key personnel. These factors, as well as additional
factors that could affect our forward-looking statements, are described in
our Form 10-K under the headings "Business -- Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations." We urge you to carefully consider this information. We
undertake no duty to update our forward-looking statements, including our
earnings outlook.
Investor contacts:
Kim Paper Canning
Manager, Investor Relations
Group 1 Automotive Inc.
713-647-5741
Email Contact
or
John Roper
Fleishman-Hillard Inc.
713-513-9505
Media contacts:
Pete DeLongchamps
Vice President, Manufacturer Relations and Public Affairs
Group 1 Automotive Inc.
713-647-5770
Email Contact
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223
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