# EDGAR Filing Document

**Accession Number:** 0001031203
**File Stem:** 0001564590-23-004444
**Filing Date:** 2023-3
**Character Count:** 10546
**Document Hash:** aa5f174cece249ed381e42cd5fb61b13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001564590-23-004444.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001564590-23-004444

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230328

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GROUP 1 AUTOMOTIVE INC
- **CENTRAL INDEX KEY:** 0001031203
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **IRS NUMBER:** 760506313
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13461
- **FILM NUMBER:** 23768274

**BUSINESS ADDRESS:**
- **STREET 1:** 800 GESSNER
- **STREET 2:** SUITE 500
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024
- **BUSINESS PHONE:** 713-647-5700

**MAIL ADDRESS:**
- **STREET 1:** 800 GESSNER
- **STREET 2:** SUITE 500
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024

?xml version="1.0" encoding="utf-8"? gpi-8k_20230328.htm

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): March 28, 2023

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## Group 1 Automotive, Inc.

#### (Exact name of Registrant as Specified in Its Charter)

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---

| | | |
|:---|:---|:---|
| **Delaware** | **1-13461** | **76-0506313** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br> **Identification No.)** |
| **800 Gessner, Suite 500**<br> **Houston, Texas 77024** |  | **77024** |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

#### Registrant's Telephone Number, Including Area Code: (713) 647-5700

#### Not Applicable

#### (Former Name or Former Address, if Changed Since Last Report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange on which registered** |
| **Common Stock, par value $0.01 per share** | **GPI** | **New York Stock Exchange** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging growth company. ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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#### Item 8.01 Other Events.
On March 28, 2023, Group 1 Automotive, Inc., a Delaware corporation (the "Company"), announced the expansion of its U.S. operations with the acquisition of Estero Bay Chevrolet in Estero, Florida.

The Company also provided an update on its year-to-date share repurchase activity.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

#### Item 9.01 Financial Statements and Exhibits.
(d)Exhibits

Exhibit Index

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| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [<u>Press Release of Group 1 Automotive, Inc., dated as of March 28, 2023</u>](gpi-ex991_6.htm). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | Group 1 Automotive, Inc. | Group 1 Automotive, Inc. |
| Date: March 28, 2023 | By: | /s/ Gillian A. Hobson |
|  |  | *Name: Gillian A. Hobson* |
|  |  | *Title: Sr. Vice President* |

---

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## Exhibit 99.1

#### Exhibit 99.1
![](gwh4mgukct53000001.jpg)

*FOR IMMEDIATE RELEASE*

### Group 1 Automotive Acquires Chevrolet Dealership in Estero, Florida
***Expected to Generate $150 Million in Annual Revenues***<br>

- ***Share Repurchase Update Provided***

**HOUSTON, TX, March 28, 2023 - <u>Group 1 Automotive, Inc.</u> (NYSE: GPI) ("Group 1" or the "Company"), an international, Fortune 300 automotive retailer with 205 dealerships located in the U.S. and U.K., today announced the expansion of its U.S. operations with the acquisition of Estero Bay Chevrolet in Estero, Florida. The dealership is located near the fast growing city of Fort Myers in Southwest Florida. Estero Bay Chevrolet is the 5<sup>th</sup> ranked Chevrolet dealership in new vehicle volume in the state of Florida. The dealership is expected to generate $150 million in annual revenues.**

The Company is also updating its year-to-date repurchase activity. Through March 28, 2023, 180,982 shares at an average price of $191.85, for a total of $34.7 million have been repurchased.

Group 1's President and CEO Daryl Kenningham stated, "We want to welcome the team at Estero Bay Chevrolet to the Group 1 family and are pleased to further expand our brand footprint and scale in Florida. Our strong cash flow and robust balance sheet continues to enable aggressive capital deployment through acquisition while also returning capital to our shareholders."

#### ABOUT GROUP 1 AUTOMOTIVE, INC.
*Group 1 owns and operates **205** automotive dealerships, **276** franchises, and **46** collision centers in the United States and the United Kingdom that offer **35** brands of automobiles. Through its dealerships and omni-channel platform, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.*

*Group 1 discloses additional information about the Company, its business, and its results of operations at <u>www.group1corp.com</u>, <u>www.group1auto.com</u>, <u>www.group1collision.com</u>, <u>www.acceleride.com</u>, <u>www.facebook.com/group1auto</u>, and <u>www.twitter.com/group1auto</u>.* 

#### FORWARD-LOOKING STATEMENTS
*This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations and business strategy, including the annualized revenues of recently completed acquisitions or dispositions and other benefits of such currently anticipated or recently completed acquisitions or dispositions. These forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions and* 

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*the risks associated therewith, (h) foreign exchange controls and currency fluctuations, (i) the impacts of COVID-19 and the armed conflict in Ukraine on our business and the supply chains upon which our business is dependent, (j) the impacts of continued inflation and any potential global recession, (k) our ability to maintain sufficient liquidity to operate, (l) the risk that proposed transactions will not be consummated in a timely manner, and (m) our ability to successfully integrate recent and future acquisitions. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.*

SOURCE: Group 1 Automotive, Inc.

#### Investor contacts:
Terry Bratton

Manager, Investor Relations

Group 1 Automotive, Inc.

tbratton@group1auto.com

#### Media contacts:
Pete DeLongchamps

Senior Vice President, Manufacturer Relations, Financial Services and Public Affairs

Group 1 Automotive, Inc.

pdelongchamps@group1auto.com

or

Clint Woods

Pierpont Communications, Inc.

713-627-2223

cwoods@piercom.com