Driving the news: Group 1 Automotive $GPI ( ▼ 0.69% ) has acquired Mercedes-Benz of Buckhead from the Baranco family in a deal that adds $210 million in expected annual revenue to the dealership group.
For context: The high-performing Atlanta luxury dealership is located near Mercedes-Benz USA's headquarters and is considered one of the most desirable stores in the region.
Gregory and Juanita Baranco, longtime leaders in Atlanta's automotive community, sold the dealership but will keep operating Mercedes-Benz of Covington in Louisiana.
The Presidio Group advised on the transaction, which closed August 4 and included all dealership real estate.
Why it matters: The acquisition shows how competitive the market has become for premium dealerships, with major groups like Group 1 paying top dollar for luxury stores in strong markets.
Big picture: Group 1 has now acquired $640 million in annual revenues this year alone, following $3.9 billion in 2024 acquisitions.
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