CARY, N.C. -

Asbury Automotive Group has hired a Group 1 Automotive executive as its new chief financial officer.

The retailer said Tuesday that Michael Welch, who was most recently vice president and corporate controller at Group 1, will be the new Asbury senior VP and CFO effective Aug. 9.

Welch had been with Group 1 since 2000 and held the VP/corporate controller role since June 2019.

“Michael has spent over 20 years working in the automotive retail industry so he brings with him a deep understanding of the auto retail business along with broad experience in financial management, treasury, accounting and auditing, which will prove invaluable as we continue to execute on our five-year growth plan,” Asbury president and chief executive officer David Hult said in a news release.

“I am very excited to have Michael join the Asbury team.”

Speaking of Group 1, it announced Tuesday that it has purchased nine franchises from the Robinsons Motor Group in the U.K. The stores are located Northeast of London, mostly in the East Anglia region.

The franchises included the Volkswagen Group brands and one Citroen location.

Group 1 anticipates the stores will bring in an estimated $300 million in annual revenues. With the acquisition, Group 1 now has 55 locations in the U.K, including 75 franchises representing 14 brands.

“We are pleased to further expand our strong relationship with the Volkswagen Group in the U.K.,” Group 1 president and CEO Earl Hesterberg said in a news release.

“Our previous experience in these market areas has been very positive and we are confident that these businesses will contribute further growth to our U.K. operation,” he said.

Elsewhere, actor Mark Wahlberg and business partner Jay Feldman have purchased Joe Firment Chevrolet in Ohio and are renaming it Mark Wahlberg Chevrolet of Avon.

The dealership is the pair’s fifth in Ohio.

“The people of Ohio have really embraced our sales and service standards,” Wahlberg said in a news release.  “With this expansion into the Cleveland area, we are deepening our bond with our Midwestern customers.”

Feldman added: “Having five dealerships in Ohio gives us the opportunity to provide consumers with a consistent sales and service experience and a huge product inventory. We'll be able to provide our Ohio customers even more brand choices at the lowest prices with this new location.”