Group 1 Automotive Inc. has expanded its U.S. luxurious portfolio with the acquisition of Mercedes-Benz of Anaheim in California.
The shop seems to have been owned by Caliber Motors, in response to California dealership license data, and was based in 1984, in response to the shop’s web site. A Group 1 spokeswoman confirmed the transaction occurred Thursday.
The dealership, which features a Sprinter franchise, is anticipated to generate $200 million in annual income, Group 1 stated.
The dealership group is “extraordinarily happy to develop our current operations in Southern California with this nice model,” Group 1 CEO Earl Hesterberg stated in an announcement. “Our sturdy relationship with Mercedes-Benz and expertise on this market space make this dealership a wonderful addition to our portfolio.”
Group 1 in July added one other Mercedes-Benz dealership, in Louisiana, together with Jaguar-Land Rover and Volvo dealerships.
The corporate stated it has acquired dealerships representing $940 million in annual income this yr.