Group 1 Automotive announced an acquisition in Brazil on Monday, part of a strategy to expand in what the company sees as a growing car market.
The Houston-based company owns and operates auto dealerships throught the U.S., the United Kingdom and Brazil..
It also said it had sold two dealerships on Long Island in New York.
The Brazilian acquisition is a Mercedes-Benz dealership in Campo Grande, Brazil, the capital of the southwestern state of Mato Grosso do Sul.
Group 1 Automotive entered Brazil with the acquisition of 18 dealerships in February 2013. When it announced the deal, the company said Brazil had a low vehicle-to-population ratio. The latest acquisition is part of a long-term strategy to invest what the company expects to be a strong market, though tough economic times have slowed growth.
BMW MINI and Mercedes-Benz dealerships were sold in Long Island.
Source : http://www.chron.com/business/retail/article/Group-1-Auto-continues-pursuit-of-Brazil-s-car-5756489.php
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