Group 1 Automotive Inc. has acquired three dealerships and a collision center to expand its presence in Louisiana.
The stores are expected to add $110 million in annual revenue.
The auto retailer said Monday that it bought Mercedes-Benz of Shreveport, Jaguar-Land Rover Shreveport and Holmes Volvo Cars, also in Shreveport.
The seller was Holmes Auto Family, according to Kerrigan Advisors, a dealership sell-side firm in Incline Village, Nev., which represented the Holmes group in the transaction, which closed Monday. The deal also included a Sprinter franchise.
Group 1 renamed the Volvo dealership Volvo Cars Shreveport but retained the other stores’ names.
Daryl Kenningham, Group 1’s president of U.S. operations, said in a statement that the company was pleased “to further expand our brand footprint and scale to our already successful Shreveport operations.”
Group 1 also has a Ford-Lincoln dealership in Shreveport.
