Doggett Automotive aqcuired 6 Group 1 Automotive dealerships!
February 10, 2024 Beaumont, Texas SK
The acquisition will add $300M to annual revenue to Dogget.
Doggett Automotive Group acquired five dealerships earlier this week followed by a sixth one. All were sold by the same public company, which appears to be Houston-based Group 1 Automotive.
Doggett Automotive Group doubled its number of auto dealerships with the acquisition of six in Beaumont this month.
The automotive group of Houston-based Doggett Industries now owns 11 auto dealerships, up from five.
The private, family-owned business acquired Mercedes-Benz, Honda, Chrysler Dodge Jeep Ram, Volkswagen, Nissan and BMW dealerships, formerly the Mike Smith Auto Complex, from Group 1 Automotive, the automotive retailer giant based in Houston. Together, the stores generate about $300 million in annual revenue, William Doggett, president of the company's equipment services group and automotive group, said.
Doggett said the acquisition builds upon the company's longstanding presence in Beaumont that began with the construction and industrial side of the business. In 2023, the company acquired Ford, Toyota, Mazda and Lincoln dealerships in Beaumont.
"We hit the ground running and figured out Beaumont's a great market for the car business," Doggett said. "And so when the opportunity for these six stores came up, we were ready to expand and really increase our footprint there in Beaumont."
#M&a #automotive #retail #gp1