Group 1 Automotive, Inc., announced it acquired Modern Classic Motors, based in Hilton Head, SC. The deal includes Mercedes-Benz, Sprinter and Honda dealerships in Beaufort County, one of the fastest-growing counties in South Carolina, and is expected to add $140 million to Group 1's annual revenue.
"We are delighted to grow our relationship with Mercedes-Benz and Honda while adding scale to our successful Hilton Head operations with these highly desirable brands," said Group 1 President and CEO Daryl Kenningham.
With this acquisition, Group 1 Automotive's portfolio now includes 202 dealerships, 265 franchises and 43 collision centers in the U.S. and UK, offering a range of 35 automobile brands. Group 1 has now acquired an estimated $1 billion of annual revenues in 2024, which follows $1.1 billion of acquired revenues in 2023.
