Group 1 Automotive Buys Toyota Dealership In Albuquerque, New Mexico

(RTTNews) - Automotive retailer Group 1 Automotive, Inc. (GPI) announced Monday the acquisition of Larry H. Miller Toyota in Albuquerque, New Mexico.

The dealership, which will be renamed Sandia Toyota, adds to the Company's existing New Mexico portfolio of 8 franchises which represents the Lexus, BMW, MINI, Land Rover, and Jaguar brands.

The dealership is expected to generate $115 million in annual revenues, bringing year-to-date total acquired revenues for Group 1 to $550 million. This dealership represents the 17th Toyota store in the Company's U.S. portfolio.

The Company also updated their year-to-date repurchase activity of 638,696 shares at an average price of $180.30 for a total of $115.2 million, which represents nearly 4 percent of Group 1's beginning of the year outstanding share count.