Group 1 Automotive Acquires Kia Dealership In Kansas
Group 1 Automotive (NYSE: GPI), a Fortune 500 automotive retailer, today announced the acquisition of Shawnee Mission Kia in Overland Park, Kan., that is expected to generate $65.0 million in estimated annual revenues.
"Group 1 is pleased to add scale to our Kansas City operations and further expand our brand offerings," said Earl J. Hesterberg, Group 1's president and chief executive officer. "Shawnee Mission Kia will complement Group 1's existing BMW, MINI and Hyundai dealerships in the Kansas City metropolitan area."
Group 1 noted that in 2012 the company acquired 16 franchises with estimated annual revenues of $715.0 million and disposed of six franchises with trailing-12-month revenues of $127.9 million.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.