Group 1 Automotive to acquire Inchcape U.K. dealerships for £346M in all-cash deal

The Acquisition Deal

• Group 1 Automotive UK Limited, a wholly-owned subsidiary of Group 1 Automotive
  (NYSE:GPI), has reached an agreement to purchase the U.K. automotive retailing business
  and related owned real estate from a subsidiary of Inchcape plc (OTCPK:IHCPF) for
  around $439 million (£346 million) in an all-cash transaction, encompassing $279
  million (£220 million) of appraised real estate value.
• The U.K. dealership of Inchcape, spanning 54 locations in key areas of England and
  Wales, brought in roughly $2.7 billion (£2.1 billion) in annual revenues in 2023, accounting
  for 18% of Group revenue. It also generated an adjusted operating profit of £49
  million, equating to 7% of Group operating profit.
• The inclusion of Inchcape dealerships will propel Group 1’s U.K. dealership count to
  109, alongside its existing 256 locations in the U.S. and U.K.
• The acquisition is slated to be finalized in the third quarter of 2024.

Expanding Horizons: Group 1 Automotive and Inchcape plc