Penske Automotive Team Inc., headquartered in Bloomfield Township, has acquired three BMW Mini dealerships and a collision center in the United Kingdom. Terms of the transaction were being not disclosed.
The obtained dealerships are located in South East England, north of London, complementing the present 32 BMW Mini franchises operated by the organization in the U.K. industry.
“I am delighted to announce that we have expanded our partnership with the BMW and Mini manufacturers in the U.K.,” claims Darren Edwards, CEO of the Sytner Team, which is owned by Penske Corp. “The acquisition of these dealerships enhances our position as the major retail companion for the BMW and Mini models in the U.K. and delivers an chance for our organization to build more scale in this essential sector. We welcome these new corporations to our crew.”
This acquisition is envisioned crank out $250 million in annualized revenues for Penske Automotive Group and was funded making use of present capacity underneath the company’s U.K.-based mostly credit arrangement. Yr-to-date 2022, Penske Automotive Group has added about $550 million in annualized income via acquisitions and open points.
Penske Automotive is a diversified intercontinental transportation solutions corporation and a person of the world’s premier automotive and professional truck shops.