Group 1 buys East of England dealerships
Three BMW/MINI dealerships in Bedford, Cambridge and Stansted have been snapped up by international automotive retailer Group 1 Automotive.
The dealerships, which will continue to trade as Elms Bedford BMW/MINI, Elms Cambridge BMW/MINI and Elms Stansted BMW/MINI, are expected to generate 5m (£143.2m) in estimated annual revenues.
The acquisition broadens the group's UK footprint to 17 dealerships, which includes existing BMW/MINI, Audi and Ford operations.
"We are pleased to expand our relationship with BMW UK and further leverage our scale and excellent management team in the UK," said Earl Hesterberg, Group 1's president and chief executive officer.
The financial details of the deal were undisclosed.