BOSTON (AP) — A Texas-based firm is shopping for Massachusetts-based Prime Automotive Group, which has 30 dealerships and three collision facilities within the Mid Atlantic and New England.

Group 1 Automotive Inc. of Houston entered into an settlement to buy Prime Automotive from New York-based GPB Capital Holdings for $880 million, the corporate introduced Monday.

GPB Capital has been coping with scandal that surfaced after the late Prime founder Ira Rosenberg offered the dealerships. Rosenberg’s son was fired by the brand new house owners after he raised issues concerning the house owners’ monetary wrongdoing, and the GPB Capital’s chief government was later arrested and charged with defrauding buyers. GPB Capital additionally faces civil lawsuits.

Group 1 owns and operates 188 dealership within the U.S., United Kingdom and Brazil, and already operates dealerships in Massachusetts and New Hampshire. The sale value was disclosed in a submitting with the Securities and Change Fee.

“We all know Prime’s markets nicely and the alternatives they characterize,” stated stated Daryl Kenningham, president of U.S. operations for Group 1 Automotive.


Prime has 1,800 workers, Kenningham stated. Its manufacturers embody Audi, BMW, Buick, Chrysler, Dodge, Ford, GMC, Honda, Jeep, Land Rover, Mazda, Mercedes-Benz, Subaru, Toyota, Volkswagen and Volvo.