Group 1 Acquires Mercedes-Benz Dealership in Upscale Ga. Neighborhood
Group 1 Automotive has acquired Mercedes-Benz of Buckhead, named for its uptown Atlanta locale, a neighborhood known for its high-rise office and condo towers and wealthy residents, who trail only Palm Beach, Fla., among the highest income earners in the South.
The dealership, which will retain its business name, was previously owned by Gregory and Juanita Baranco. It is expected to generate more than $200 million in annual revenues for Group 1, which now owns 33 Mercedes-Benz dealerships in the U.S. and U.K. and 29 dealerships in the Southeastern states.
“We are pleased to expand our long-standing partnership with Mercedes-Benz and grow our presence in the Atlanta market,” writes Group 1 President and CEO Daryl Kenningham in a release. “This acquisition aligns with our strategy of investing in high-performing dealerships, and we are proud to welcome our new team members to the Group 1 family.”
