Group 1 Automotive acquires Modern Classic Motors in Hilton Head, SC

Group 1 Automotive announced the acquisition of Modern Classic Motors in Hilton Head, South Carolina. The acquisition includes three franchises: Mercedes-Benz, Sprinter and Honda in Beaufort County, one of the fastest-growing counties in South Carolina. The acquisition expands Group 1’s relationship with Mercedes-Benz to 17 franchises in the U.S. and U.K. and with Honda to 13 franchises in the U.S. The dealerships are expected to generate $140M in annual revenues. Group 1’s President and CEO Daryl Kenningham stated, “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.” Group 1 has now acquired an estimated $1B of annual revenues in 2024, which follows $1.1B of acquired revenues in 2023.