Cliff Banks - The Banks Report

Group 1 Acquires Texas Mercedes Store

Group 1 Automotive continues its aggressive pace of acquisitions buying Mercedes Benz of Boerne, Texas from Ronald Heller and Bill Bird. The deal includes a Sprinter franchise and should generate about $135 million in annual revenue. The store is Group 1’s seventh Mercedes Benz dealership.

Group 1 has acquired 41 dealerships dating back to January 2013 and has been the most aggressive of all the public dealer groups in buy-sell activity. In the last month it also has divested a Honda dealership in New Jersey and a Volvo store in Long Island — both acquired by Patrick Dibre.

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