Group 1 Automotive, one of the largest dealership groups in the US, agreed to acquire the UK retail operations of Inchcape, a global automotive distributor, for £346m. ''We are delighted to have reached an agreement to acquire Inchcape's UK Retail operations, which we have long admired given the company's reputation for exceptional customer service, attractive portfolio of OEM brand partners and high-quality management team. With our considerable automotive retail experience in the United States and the UK, we look forward to building on Inchcape's strong industry relationships and leveraging our expertise to support our combined operations in their next phase of growth," Daryl Kenningham, Group 1 Automotive President and CEO.