Group 1 Automotive agrees to buy Hennessy dealership assets and real estate for about $1.3 billion

Group 1 Automotive agreed to buy Hennessy Automobile Companies’ dealership assets and real estate in the Atlanta market for about $1.3 billion.

• The deal covers 10 dealerships with about 500 service bays and is expected to add about $1.7 billion in annualized revenue.
• Group 1 said its Atlanta footprint would rise to 15 dealerships, making it its second-largest market by revenue.
• The company plans to fund the purchase with new debt backed by a bridge commitment, with closing targeted by year-end 2026.
• The acquisition is expected to be immediately accretive to earnings per share upon closing.