Group 1 Automotive acquires 54 Inchcape UK dealerships for $439M all-cash

GROUP 1 AUTOMOTIVE INC

Acquisition of 54 dealerships across England and Wales for ~$439M (£346M); includes $279M real estate.
Inchcape UK dealerships generated ~$2.7B in 2023 revenues; sell 63,500+ new/used and 24,000 corporate units annually.
Expected close in Q3 2024, subject to FCA approval; financed with debt and cash; pro-forma leverage ~2.2x.
Group 1 UK dealership count would increase to 109; total locations to 256 in US and UK.
Year to date 2024, Group 1 completed $1.0B acquired revenues; total ~$3.7B expected at close.

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