Group 1 Acquires Three Texas Dealerships
Group1 Automotive acquired BMW, MINI and Cadillac dealerships in Arlington, Texas, from Moritz Dealerships.
HOUSTON — Group 1 Automotive Inc., an international, Fortune 500 automotive retailer, today announced the acquisition of Moritz BMW/MINI and Moritz Cadillac in Arlington, Texas.
The dealerships, which will operate as BMW of Arlington, MINI of Arlington and Cadillac of Arlington, are expected to generate $200 million in estimated annual revenues.
"Dallas, Texas is one of the largest and fastest growing luxury automobile markets in the [United States]," said Earl J. Hesterberg, Group 1's president and CEO. “These well-established businesses will give Group 1 a great platform for growth and will further expand our important, long-term relationship with BMW of North America.”
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