[ad_1]
Penske Automotive Group Inc. has acquired a BMW-Mini dealership and collision center in Southern California that it expects will add about $115 million in annual revenue.
Penske said it bought BMW-Mini of Escondido and a collision center Monday in an auto mall, where it also has dealerships selling Acura, Audi, Honda and Mazda vehicles. Escondido is north of San Diego. The Brecht family was the seller, said Penske spokesman Anthony Pordon.
“The acquisition strengthens the scale of our offerings in the Escondido Auto Mall and adds additional depth to our relationship with the BMW and Mini brands,” Penske CEO Roger Penske said in a statement.
Penske said it will grow by 72 employees, including 22 technicians.
The acquisition marks the group’s second U.S. BMW dealership purchase since December, when it bought a store in Bloomfield Hills, Mich., where the company is headquartered.
Also this month, Penske said it bought three BMW-Mini dealerships and a collision center in the U.K., and in February, it said it bought a medium- and heavy-duty commercial truck business in Ontario, Canada. In January, Penske said it had opened a new-point Honda dealership in Leander, Texas.
Penske ranks No. 3 on Automotive News‘ list of the top 150 dealership groups based in the U.S., retailing 195,384 new vehicles in 2021.
Source link