---
schema_version: "secwatch.filing_event.v1"
accession: "0001031203-24-000010"
form_type: "8-K"
ticker: "GPI"
cik: "0001031203"
company_name: "GROUP 1 AUTOMOTIVE INC"
filed_at: "2024-02-14T23:59:59+00:00"
generated_at: "2026-06-06T01:55:27.303315+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Group 1 Auto acquires RRR Automotive Group ($500M rev); raises 2024 dividend 4% to $1.88

## Summary
- Acquisition includes Toyota, Honda, Hyundai, Kia dealerships in Baltimore/DC; expected $500M annual revenues.
- Disposed of 10 franchises and a collision center in Beaumont, TX during Q1 2024.
- 2024 annual dividend rate increased 4% to $1.88/share; Q1 dividend $0.47 payable March 15, 2024.
- Entered $250M master credit agreement with Wells Fargo, secured by real estate, maturing March 2031.

## SEC filing metadata
- accession: 0001031203-24-000010
- form_type: 8-K
- ticker: GPI
- cik: 0001031203
- company_name: GROUP 1 AUTOMOTIVE INC
- filed_at: 2024-02-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031203/000103120324000010/0001031203-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031203/000103120324000010/gpi-20240212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031203-24-000010
- JSON: https://secwatch.observer/filing/0001031203-24-000010.json
- Plain text: https://secwatch.observer/filing/0001031203-24-000010.txt

## Key facts
- Debt Financings
  GROUP 1 AUTOMOTIVE INC incurred credit facility of $250 million with Wells Fargo Bank, National Association at Term SOFR plus 175 basis points maturing March 1, 2031.
  - Instrument: credit facility
  - Principal: $250 million
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Term SOFR plus 175 basis points
  - Maturity: March 1, 2031
  - Event: incurrence
  source text: with Wells Fargo Bank, National Association, as lender (the “Lender”), providing term loans on a periodic basis to the Borrowers in a principal amount equaling the lesser of (A) $250 million and (B) 80% of the sum of the value of all mortgaged properties (the “Properties”), calculated for each Property as the lesser of (i) appraised value and (ii) the cost of such
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031203/000103120324000010/0001031203-24-000010-index.htm
- Material Agreements
  GROUP 1 AUTOMOTIVE INC entered into Credit Agreement with Wells Fargo Bank, National Association valued at $250 million (effective 2024-02-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: $250 million
  - Effective: 2024-02-12
  source text: entered into a master credit agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association, as lender (the “Lender”), providing term loans on a periodic basis to the Borrowers in a principal amount equaling the lesser of (A) $250 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031203/000103120324000010/0001031203-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.