Dentons has advised the U.K. arm of Group 1 Automotive Inc, a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., on its acquisition of the U.K. automotive retail business and related real estate of Inchcape plc for approximately ÂŁ346 million in an all-cash transaction. The transaction is subject to approval from the Financial Conduct Authority and is expected to close in the third quarter of 2024.
With the addition of Inchcape’s dealerships, the transaction enables Group 1 to expand into new markets in the Midlands and North West with representation of Audi, BMW/MINI, Jaguar Land Rover, Lexus, Mercedes-Benz/smart, Porsche, Toyota, Volkswagen and Volkswagen Commercial Vehicles.
The Dentons team advising Group 1 was led by Corporate Partners Faye Garvey and James Vernon with further support from a team including Corporate Senior Associate Dan Stafford and Corporate Associates Emily Bowler, Finance Senior Associate Matt Exton, Pensions Partner Eleanor Hart, Tax and Incentives Partner Lorna McCaa and Consultant John Finnick, Competition Partner Chris Graf and Senior Associate Megan Penny, Real Estate Counsel Lorna Rogers and Associates Alessandro Randall and Taylor Jackson, Data Protection Senior Associate Esther Rusling, Employment Senior Associate Emma Carter and Environmental Associate Sam Ahmad.
Faye Garvey said “We are honoured to have been trusted by Group 1 as its advisors on this transaction which showcased Dentons’ expertise in the auto retail sector” whilst James noted “It was a pleasure to support the Group 1 team on this significant investment into the UK market”.
