Group 1 automotive acquires two high volume lexus dealerships in southern california

Expected annual revenues of $350 million the company also provides a share repurchase update houston , feb. 26, 2024 /prnewswire/ -- group 1 automotive, inc. (nyse: gpi) ("group 1" or the "company"), an international fortune 300 automotive retailer with 200 dealerships located in the u.s. and u.k., today announced the acquisition of newport lexus and tustin lexus, two high performing lexus dealerships in orange county, california.  the dealerships are expected to generate $350 million in annual revenues bringing 2024 year-to-date total acquired revenues for group 1 to $850 million, which follows $1.1 billion of acquired revenues in 2023.
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