Mergers & Acquisitions ·
Group 1 Automotive announced the signing of a definitive agreement to acquire substantially all assets of Hennessy…
GPIGroup 1 Automotive Inc
Group 1 Automotive announced the signing of a definitive agreement to acquire substantially all assets of Hennessy Automobile Companies, including ten dealerships and one collision center in the Atlanta market, for approximately $1.3 billion plus inventory adjustments. The transaction is expected to generate roughly $1.7 billion in annualized revenues and be immediately accretive to earnings per share upon closing, which is targeted by year-end 2026 pending regulatory and manufacturer approvals. Concurrently, Group 1 reported second quarter 2026 financial results showing total revenues of $5.4 billion and diluted earnings per share from continuing operations of $8.62. The company also secured a $1.25 billion senior unsecured bridge facility commitment from JPMorgan Chase to finance the acquisition. Group 1 Automotive operates automotive dealerships in the United States and the United Kingdom.