Top-performing Chevrolet dealership in region acquired

Estero Bay Chevrolet in Lee County, one of the largest new vehicle sales volume Chevrolet dealerships in Florida, has been sold. 

Houston-based Group 1 Automotive, a publicly traded, Fortune 300 automotive retailer with 205 dealerships in the U.S. and U.K., acquired the business, according to a statement. Terms of the deal weren’t disclosed. 

"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,” Group 1 President and CEO Daryl Kenningham says in the release. “Our strong cash flow and robust balance sheet continues to enable aggressive capital deployment through acquisition while also returning capital to our shareholders."