Group 1 Automotive announced the expansion of its U.K. operations with the acquisition of four Mercedes-Benz dealerships located north of London in the county of Hertfordshire from L&L Automotive. These locations are contiguous with several other dealerships currently owned and operated by Group 1 in the U.K. and are expected to sell more than 2,800 new and used vehicle units annually. This acquisition is expected to generate $105M in annual revenues with new cars sales recorded as net revenue under the agency model.
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