Group 1 Automotive Buys Beadles, Gets A Dozen Dealerships

By Zacks Investment ResearchStock MarketsJul 06, 2017 09:12PM ET

www.investing.com/analysis/article-200199728

Group 1 Automotive Buys Beadles, Gets A Dozen Dealerships

By Zacks Investment Research | Jul 06, 2017 09:12PM ET

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Group 1 Automotive Inc. (NYSE:GPI) has announced acquisition of Beadles Group Ltd., a U.K.-based automotive retailer. The acquired company has seven brands across 12 dealerships in the southeastern part of greater London metropolitan market.

The seven brands are Jaguar, Land Rover, Volkswagen (DE:VOWG_p), Skoda, Toyota, Vauxhall and Kia with their dealership sites located in the towns of Bromley, Coulsdon, Dartford, Maidstone, Medway, Sevenoaks, Sidcup and Southend.

The dealerships will continue to be managed under the Beadles name and are anticipated to generate roughly $330 million in annualized revenues.

The new acquisition will enable Group 1 Automotive to increase its operation in the U.K., with total dealership count reaching 43. Apart from the 12 newly added ones, the existing dealerships are of Audi, BMW/MINI, Ford, Jaguar, SEAT and Volkswagen Commercial Vehicles stores.

According to Earl J. Hesterberg, Group 1 Automotive’s president and CEO, the acquisition will support the company with scale, additional management resources as well as new brand partnerships in the U.K. The latest addition along with the current U.K. operations is expected to contribute over $2 billion in annualized revenues.

The company regularly acquires and divests dealerships and franchises to expand its business. The most recent dealership was in Apr 2017, when the company opened an add point in Austin, TX, thereby increasing the U.S. Nissan network to nine dealerships.

These add points are expected to rake in around $60 million in annual revenues. Earlier in Jan 2017, Group 1 Automotive had acquired a BMW motorcycle franchise in Parana, Brazil.

Price Performance

Group 1 Automotive has underperformed the Zacks categorized Automotive - Retail and Whole Sales industry in the last three months. The company’s shares have lost 8.7% during this period compared with a the industry gain of 3%.

Zacks Rank & Key Picks

Currently, Group 1 Automotive carries a Zacks Rank #3 (Hold).

Harley-Davidson, Inc. Price and Consensus

Harley-Davidson, Inc. Price and Consensus | Harley-Davidson, Inc. Quote

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Allison Transmission Holdings has an expected long-term growth rate of 11%.

Continental has expected long-term earnings per share growth rate of 7.8%.

Cummins has an expected earnings growth rate of 11.7% over the long term.

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Group 1 Automotive Buys Beadles, Gets A Dozen Dealerships

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