Group 1 Automotive has completed its approximately $1.3 billion acquisition of Hennessy Automobile Companies’ assets in the greater Atlanta, Georgia, market, expanding its dealership network in the southeastern United States.

Finalised on Monday, the transaction includes 10 automobile dealerships, one collision centre, and associated real estate and leasehold interests. The purchase price remains subject to customary post-closing adjustments.

As part of the agreement, Group 1 placed $80 million into an indemnity escrow account to secure Hennessy’s post-closing obligations.

The funds are scheduled for staged release over 18 months, subject to any outstanding claims. Group 1 has also agreed to assume certain specified liabilities, including obligations arising after completion under contracts transferred as part of the transaction.

The acquisition was financed through proceeds from two previously announced private placements of senior notes, totalling $1.25 billion.

These comprise $625 million of notes carrying a 6.250% coupon and maturing in 2032, and a further $625 million carrying a 6.625% coupon and maturing in 2035. Cash on hand provided additional funding.

The deal comes as Group 1 navigates a challenging US automotive market, following second-quarter 2026 earnings that fell short of analyst expectations. The company expects the Hennessy acquisition to support future sales volumes.

Group 1 said it would file the required financial statements and pro forma financial information with the US Securities and Exchange Commission within 71 days, in accordance with regulatory requirements.