Group 1 Automotive Inc. has finalized its acquisition of global automotive group Inchcape, which has 54 U.K. dealerships.

The acquisition was announced April 15; Group 1 paid $439 million in cash. It is expected the acquisition will add $2.7 billion in annual revenue for Group 1 Automotive.

The addition of the Inchcape stores complements Group 1’s geographic footprint in the east and southeast of England and allows it to expand into new markets in the central and northwest regions of England and Wales. The dealerships will retail Audi, BMW/Mini, JLR, Lexus, Mercedes-Benz/Smart, Porsche, Toyota and Volkswagen vehicles.

“This transformative acquisition effectively doubles our U.K. footprint, giving us access to new markets throughout England with a collection of outstanding brands,” said Group 1 CEO Daryl Kenningham. “We are delighted to welcome our new team members as we collaborate to deliver an excellent customer experience.”

Inchcape will continue to operate its global automotive retail distribution business.

Inchcape Europe ranked No. 6 on Automotive News Europe’s 2023 Guide to Europe’s Biggest Dealers, with retail sales of 61,000 new vehicles in 2022. Group 1 ranked No. 17 on the same list, retailing 29,694 new vehicles in 2022.

Group 1 ranks No. 4 on Automotive News’ list of the top 150 dealership groups based in the U.S., retailing 175,566 new vehicles in 2023.