Group 1 Automotive Agrees To Acquire Inchcape U.K. Dealerships For $439M In Cash

Author: Benzinga Newsdesk | April 15, 2024 02:37am

• 54 Dealership Locations in the United Kingdom

Group 1 Automotive, a  Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced it has entered into a definitive agreement to acquire the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape plc for approximately $439 million (£346 million) in an all-cash transaction, inclusive of $279 million (£220 million) of appraised real estate value.  In 2023, the Inchcape U.K. dealerships generated approximately $2.7 billion USD (£2.1 billion) in annual revenues.  The transaction is subject to the receipt of approval from the Financial Conduct Authority and is expected to close in the third quarter of 2024.

Posted In: GPI