Group 1 has acquired Fairfield Motor Group, and Essex-based BMW and Mini franchised car retailer.
Fairfield owner Mike Style announced the acquisition on LinkedIn. He said: “After owning Fairfield Motor Group for 34 years and working there for almost 40 years, I’ve made the difficult decision to hang up my boots.
“I will be handing the reins over to Group 1 Automotive, who I believe as a Fortune 500 company with an excellent record, they will take great care of my staff and Fairfield will go on to have a successful future.”
Group 1 recently announced that Earl J Hesterberg, president and CEO will retire in December this year.
Group 1 executive Daryl Kenningham, currently president of US operations, has been appointed as president and COO and a member of the board of directors. He will succeed Hesterberg as CEO in January 2023.
“On behalf of the board of directors and the Group 1 employees, we are deeply grateful for Earl’s many years of exceptional leadership and strategic vision,” said Group 1 chairman Steve Quinn.
“As a highly respected international automotive executive, Earl utilized his relationships to expand the company’s US operations and build a significant UK business, increasing aggregate Company revenues threefold.
“The board and I are delighted to announce Daryl as Group 1’s next CEO. Over the course of his career, Daryl has developed strong relationships with the automotive manufacturers.
“He is a proven, strategic operating executive with extensive automotive experience and a deep knowledge of Group 1.”