Latest news with #GPI
Business Wire
21-05-2025
- Automotive
- Business Wire
Haig Partners Serves as Exclusive Advisor on the Sale of Mercedes-Benz of South Austin in Austin, TX, to Group 1 Automotive, Inc.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Haig Partners LLC, a leading buy-sell advisory firm to auto and heavy truck dealers in the US, served as the exclusive sell-side advisor on the sale of Mercedes-Benz of South Austin in Austin, TX on its sale to Group 1 Automotive, Inc. (NYSE: 'GPI'). Mercedes-Benz of South Austin was owned by Jeff Swickard, owner of Swickard Auto Group, ranked #30 in Automotive News Top 150 Dealership Groups report in 2025. GPI is a publicly traded auto retailer that owns 263 auto dealerships and 39 collision centers in the US and the UK that generated almost $21 billion in revenue over the past twelve months. Jeff Swickard commented, 'Mercedes-Benz is one of the premier brands in the automotive industry, and Austin remains one of the most dynamic markets in the country. We congratulate Group 1 on their newest acquisition and are confident they will do very well with this dealership. We are proud of the legacy we built in South Austin and grateful to the team and community that supported us there. Our plans are to continue to grow. This sale reflects our strategic decision to focus our efforts in our core markets of California, Washington, Alaska, Oregon and Hawaii. I would like to thank Alan Haig of Haig Partners for helping me to identify the best buyer for Mercedes-Benz of South Austin. This is the second dealership he has assisted in selling for our company, and I have also purchased multiple dealerships he was representing. Alan has a unique ability to identify the best counterparty in a buy-sell without running a big auction process that causes rumors to spread, and his calm and thoughtful manner helps to get transactions done smoothly. I have developed complete trust in him over the years.' Alan Haig stated, 'Jeff Swickard has built one of the most impressive dealership groups in the country in just a little over a decade. During that time, he has earned the respect of the OEMs and his fellow dealers. We congratulate him on securing this dealership open point years ago and then building one of the best-looking dealerships in the US. It was a pleasure for us to advise Jeff on this transaction. Mercedes-Benz and Austin were a powerful combination, and we are happy with the results we were able to help secure for Jeff. Stores like Mercedes-Benz of South Austin continue to bring very high values from deep-pocketed buyers like GPI. We also congratulate Group 1 Automotive. CEO Daryl Kenningham and his executives have done an impressive job growing the company by focusing on higher performing brands in large markets. Group 1 already owned Mercedes-Benz of Georgetown, which is also in the Austin area, so I believed this could be a strategic transaction for them which would also align with Mercedes-Benz USA's preference for dealers to own multiple stores in the same market. This transaction turned out to be a win for Jeff Swickard, a win for Group 1, and a win for Mercedes-Benz USA.' The team at Haig Partners has been involved in buying or selling 19 Mercedes-Benz dealerships nationwide, including two this year in Texas. Haig Partners ranks Mercedes-Benz as one of the most desirable auto franchises in its Q4 2024 Haig Report. The transaction also demonstrates that Texas retains its position as perhaps the most desirable market in the country for auto retail. Buyers are attracted to its high population growth and business-friendly environment that lead to strong profits. Mercedes-Benz of South Austin is the 48th dealership in Texas that the team at Haig Partners has purchased or sold in their careers. Haig Partners Managing Directors Mike Toth and David Rowe are currently representing six other dealerships in Texas that are pending closing, and they are advising on the sale of four more dealerships in that state. Dave Rowe is based in Dallas, TX where he has lived for over 25 years. He previously served as CFO for Sewell Automotive Companies after a long stint as Regional Vice President of Ally Financial's Western Region. About Haig Partners Haig Partners is a leading buy-sell advisory firm that helps owners of higher-value auto, truck, RV and powersports dealerships maximize the value of their businesses when they are ready to sell. The team at Haig Partners has advised on the purchase or sale of more than 510 dealerships with a total value of over $10 billion. It has represented 30 dealership groups that qualify for the Top 150 Dealership Groups list published by Automotive News, more than any other firm. Clients of Haig Partners benefit from the group's collective experience as previous executives with leading companies such as Ally Financial, AutoNation, Bank of America, Credit Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Companies and Toyota Financial Services. Leveraging its unmatched expertise and extensive relationships, Haig Partners guides clients to successful outcomes through a confidential and customized sales process. The firm authors The Haig Report®, the longest-published quarterly report that tracks trends in auto retail and their impact on dealership values, and co-authors NADA's Guide, 'Buying and Selling a Dealership.' Haig Partners team members are frequent speakers at industry conferences and are regularly quoted in reputable media outlets, including Reuters, Forbes, The Wall Street Journal, The New York Times, CNBC, BBC, Automotive News, Wards, CarDealershipGuy and CBT News. For more information, visit
Yahoo
21-05-2025
- Automotive
- Yahoo
Haig Partners Serves as Exclusive Advisor on the Sale of Mercedes-Benz of South Austin in Austin, TX, to Group 1 Automotive, Inc.
FORT LAUDERDALE, Fla., May 21, 2025--(BUSINESS WIRE)--Haig Partners LLC, a leading buy-sell advisory firm to auto and heavy truck dealers in the US, served as the exclusive sell-side advisor on the sale of Mercedes-Benz of South Austin in Austin, TX on its sale to Group 1 Automotive, Inc. (NYSE: "GPI"). Mercedes-Benz of South Austin was owned by Jeff Swickard, owner of Swickard Auto Group, ranked #30 in Automotive News Top 150 Dealership Groups report in 2025. GPI is a publicly traded auto retailer that owns 263 auto dealerships and 39 collision centers in the US and the UK that generated almost $21 billion in revenue over the past twelve months. Jeff Swickard commented, "Mercedes-Benz is one of the premier brands in the automotive industry, and Austin remains one of the most dynamic markets in the country. We congratulate Group 1 on their newest acquisition and are confident they will do very well with this dealership. We are proud of the legacy we built in South Austin and grateful to the team and community that supported us there. Our plans are to continue to grow. This sale reflects our strategic decision to focus our efforts in our core markets of California, Washington, Alaska, Oregon and Hawaii. I would like to thank Alan Haig of Haig Partners for helping me to identify the best buyer for Mercedes-Benz of South Austin. This is the second dealership he has assisted in selling for our company, and I have also purchased multiple dealerships he was representing. Alan has a unique ability to identify the best counterparty in a buy-sell without running a big auction process that causes rumors to spread, and his calm and thoughtful manner helps to get transactions done smoothly. I have developed complete trust in him over the years." Alan Haig stated, "Jeff Swickard has built one of the most impressive dealership groups in the country in just a little over a decade. During that time, he has earned the respect of the OEMs and his fellow dealers. We congratulate him on securing this dealership open point years ago and then building one of the best-looking dealerships in the US. It was a pleasure for us to advise Jeff on this transaction. Mercedes-Benz and Austin were a powerful combination, and we are happy with the results we were able to help secure for Jeff. Stores like Mercedes-Benz of South Austin continue to bring very high values from deep-pocketed buyers like GPI. We also congratulate Group 1 Automotive. CEO Daryl Kenningham and his executives have done an impressive job growing the company by focusing on higher performing brands in large markets. Group 1 already owned Mercedes-Benz of Georgetown, which is also in the Austin area, so I believed this could be a strategic transaction for them which would also align with Mercedes-Benz USA's preference for dealers to own multiple stores in the same market. This transaction turned out to be a win for Jeff Swickard, a win for Group 1, and a win for Mercedes-Benz USA." The team at Haig Partners has been involved in buying or selling 19 Mercedes-Benz dealerships nationwide, including two this year in Texas. Haig Partners ranks Mercedes-Benz as one of the most desirable auto franchises in its Q4 2024 Haig Report. The transaction also demonstrates that Texas retains its position as perhaps the most desirable market in the country for auto retail. Buyers are attracted to its high population growth and business-friendly environment that lead to strong profits. Mercedes-Benz of South Austin is the 48th dealership in Texas that the team at Haig Partners has purchased or sold in their careers. Haig Partners Managing Directors Mike Toth and David Rowe are currently representing six other dealerships in Texas that are pending closing, and they are advising on the sale of four more dealerships in that state. Dave Rowe is based in Dallas, TX where he has lived for over 25 years. He previously served as CFO for Sewell Automotive Companies after a long stint as Regional Vice President of Ally Financial's Western Region. About Haig Partners Haig Partners is a leading buy-sell advisory firm that helps owners of higher-value auto, truck, RV and powersports dealerships maximize the value of their businesses when they are ready to sell. The team at Haig Partners has advised on the purchase or sale of more than 510 dealerships with a total value of over $10 billion. It has represented 30 dealership groups that qualify for the Top 150 Dealership Groups list published by Automotive News, more than any other firm. Clients of Haig Partners benefit from the group's collective experience as previous executives with leading companies such as Ally Financial, AutoNation, Bank of America, Credit Suisse, Deloitte, FORVIS, J.P. Morgan, the Sewell Automotive Companies and Toyota Financial Services. Leveraging its unmatched expertise and extensive relationships, Haig Partners guides clients to successful outcomes through a confidential and customized sales process. The firm authors The Haig Report®, the longest-published quarterly report that tracks trends in auto retail and their impact on dealership values, and co-authors NADA's Guide, "Buying and Selling a Dealership." Haig Partners team members are frequent speakers at industry conferences and are regularly quoted in reputable media outlets, including Reuters, Forbes, The Wall Street Journal, The New York Times, CNBC, BBC, Automotive News, Wards, CarDealershipGuy and CBT News. For more information, visit View source version on Contacts Transaction Contact:Alan HaigPresident & FounderHaig Partnersalan@ (954) 646-8921 Media Contact:Aimee AllenChief Growth OfficerHaig Partnersaimee@ (603) 933-2194
Yahoo
21-05-2025
- Automotive
- Yahoo
Group 1 Automotive Expands by Acquiring Three Luxury Brand Dealerships in Florida and Texas
Group 1 Automotive, Inc. (NYSE:GPI) has revealed plans to purchase three luxury brand shops in Florida and Texas: Mercedes-Benz, Acura, and Lexus. The acquisition is projected to bring in $330 million annually. A line of new and used cars in a large auto dealership's showroom. Group 1 Automotive, Inc. (NYSE:GPI) now has three dealerships in Southwest Florida because of the acquisition of the Lexus and Acura stores in Fort Myers, and it now has eight dealerships in the Austin area because of the purchase of Mercedes-Benz of South Austin. Following the completion of $3.9 billion in revenue acquisitions in 2024, the corporation now forecasts generating $430 million in acquired revenue for 2025. According to CEO Daryl Kenningham, the brands are "exceptional additions" to the firm's portfolio, which currently consists of 263 dealerships in the United States and the United Kingdom. Group 1 Automotive, Inc. (NYSE:GPI) also reported repurchasing 401,649 shares for $167.3 million at an average price of $416.62 per share so far this year, which furthers the company's commitment to capital returns. The purchases support the company's plan to expand its business in "cluster" markets with rapid development. Both Austin and Fort Myers, which are seeing fast economic and demographic growth, offer excellent prospects for high-margin luxury automobile sales. Group 1 Automotive, Inc. (NYSE:GPI)'s dual-track strategy of expansion through M&A and shareholder value through buybacks is supported by this action. The business has 335 franchisees and 39 collision centers in the United States and the United Kingdom, selling 35 automotive brands. It maintains shareholder returns through aggressive repurchase programs while seeking market expansion with high free cash flow. While we acknowledge the potential of GPI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GPI and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: Nike Restructures the Technology Division, Laying Off Some Employees and Alphabet's Waymo has Secured Approval to Expand its Driverless Ride-Hailing Service to San Jose. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New Indian Express
17-05-2025
- Business
- New Indian Express
Ensure no tobacco farmer incurs loss: CM Chandrababu Naidu
VIJAYAWADA: Chief Minister N Chandrababu Naidu has taken a firm stand to protect tobacco farmers from losses amid a sharp decline in prices. During a high-level review meeting held at his Undavalli residence on Friday, he issued stringent directions to officials to ensure the immediate procurement of tobacco at fair prices. He emphasised that tobacco farmers should not suffer losses under any circumstances, and warned that any exploitation will attract severe consequences, underscoring his commitment to safeguarding the interests of both farmers and industries. He expressed deep concern over the plummeting tobacco prices, which has sparked unrest among farmers. He made it clear that the government's reputation should not be tarnished due to procurement delays or unfair practices. He set an ambitious target for companies like GPI and ITC to procure 20 million kg of HD Burley tobacco at Rs 12,500 per quintal, based on quality. To enforce accountability, he directed the Agriculture Department to monitor daily purchases through a dedicated control room and WhatsApp group, with progress reports for every two days. Naidu stressed that no tobacco stocks should remain unsold, whether stored at farmers' houses or fields. A comprehensive procurement report, detailing tobacco quantities and prices, has been sought by Monday. The Chief Minister attributed the crisis to an unprecedented yield of 450 million kg of tobacco from 1,90,456 hectares in 2024-25 season, driven by farmers shifting to tobacco cultivation due to its high productivity. This overproduction, particularly of FCV, White Burley, and HD Burley varieties, has led to a glut, exacerbating price slump, he explained.
Hans India
17-05-2025
- Business
- Hans India
Tobacco farmers must not suffer due to lack of remunerative prices: Naidu
Vijayawada: Chief Minister N Chandrababu Naidu on Friday issued firm directives that tobacco farmers in the State must not suffer losses under any circumstances. He ordered that traders must begin immediate procurement of tobacco at remunerative prices and underlined that procurement should not stop under any pretext. He made it clear that any injustice to farmers would not be tolerated. He warned traders that the government would not hesitate to take action if the current crisis is not resolved promptly. In a review meeting held at his Undavalli residence on Friday with officials and traders regarding procurement and support prices for tobacco, cocoa, chili, and paddy, Naidu expressed deep dissatisfaction over the sharp fall in tobacco prices. He directed authorities to ensure farmers get remunerative prices and to avoid any actions that would bring disrepute to the government. He said that the HD Burley variety of tobacco must be purchased by companies at Rs 12,500 per quintal based on quality. GPI and ITC must immediately begin procurement of 20 million kg. Daily procurement must be monitored through a control room and WhatsApp groups. Officials informed Naidu that a total of 450 million kg of FCV, White Burley, and HD Burley tobacco was produced across 1,90,456 hectares in 2024–25—a record high. A shift from other crops to tobacco caused this unexpected surge, leading to oversupply issues. Babu criticised the Tobacco Board for failing to prevent the price crash and said there was poor coordination with major traders like GPI and ITC. He noted that while companies lured farmers with the promise of high prices, they slashed rates at harvest time—an unacceptable betrayal. He faulted companies for creating a crisis by denying MSP. To resolve the crisis, he pointed out that only a Buyback Agreement Policy could protect farmers. He urged farmers to enter into buyback agreements with companies from now on. Companies explained that the Tobacco Board regulates only FCV tobacco. Over 90% of White Burley tobacco has already been procured. Reviewing cocoa procurement, he instructed Mondelez to not buy cocoa beans below Rs 500/kg. He warned against exploitation of farmers and urged coordination with other companies to ensure uniform pricing. He asked Mondelez to prepare a value-chain plan from cultivation to product development. A dedicated cocoa policy, similar to that for oil palm, is needed, he said. He instructed the Agriculture Marketing Department to prepare a list of chili farmers who sold produce through market committees and suffered losses due to low prices. He directed that all remaining paddy still with farmers be procured and that fine rice cultivation be promoted.
