Group 1’s growth continues with addition of Hilton Head dealership – Auto Remarketing

0 minutes, 41 seconds Read

Group 1 Automotive has added another location to its collection — this one in the resort area of Hilton Head, S.C.

The dealership group announced the acquisition of Modern Classic Motors, which includes Mercedes-Benz, Sprinter and Honda franchises.

The acquisition, which gives Group 1 17 Mercedes-Benz franchises and 13 with Honda, is expected to generate $140 million in annual revenues.

“We are delighted to grow our relationship with Mercedes-Benz and Honda while adding scale to our successful Hilton Head operations with these highly desirable brands,” Group 1 president and CEO Daryl Kenningham said.

Group 1 currently operates 202 dealerships in the U.S. and U.K., and has been very active in its expansion in 2024 with major acquisitions in California and Maryland. The company said it has acquired an estimated $1 billion of annual revenues so far this year after adding $1.1 billion of acquired revenues in 2023.

This post was originally published on this site

Similar Posts

    Your Cart
    Your cart is emptyReturn to Shop