The acquisition also includes BMW Motorrad franchises. With the purchase of those businesses, which are also located in Albuquerque and Santa Fe, Group 1 said in a news release that it is the exclusive seller of BMW motorcycles in New Mexico.
Group 1 also said the stores represent Group 1’s first motorcycle franchises in the U.S. and that the transaction adds to the existing relationship with BMW Motorrad in the United Kingdom and Brazil.
Group 1 expects the dealerships to generate about $100 million in annualized revenue.
With the acquisition, Group 1’s total representation in New Mexico expands to seven Jaguar, Land Rover, BMW and Mini brand automotive franchise operations.
In the United States, the United Kingdom, and Brazil, Group 1 owns and operates 180 automotive dealerships, 233 franchises, and 47 collision centers and offers 30 brands of automobiles.
“We are pleased to expand our dealership footprint in the fast-growing New Mexico market and increase our long-standing partnership with BMW,” Group 1 President and Chief Executive Officer Earl Hesterberg said.