Houston-based Group 1 Automotive Inc. (NYSE:GPI) expanded its New Mexico footprint this week with the acquisition of New Mexico’s only Lexus franchises.
The two dealerships are Lexus of Albuquerque and Lexus of Santa Fe, and their additions are expected to generate about $90 million in annual revenue, according to a Dec. 9 press release. Group 1 Senior Vice President Pete DeLongchamps said the deal closed Monday. He added that Lexus dealerships seldom go on the market, making the transaction an…
Source: The Business Journal
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