Acquisition includes 22 technicians and is expected to generate annualized revenue of approximately $115 million
Bloomfield Hills, Mich.—Penske Automotive Group, Inc. has announced it has acquired BMW/MINI of Escondido, along with a collision center, located in Escondido, Calif. The acquired dealership and collision center are located in the Escondido Auto Mall, where the company currently operates dealerships featuring the Acura, Audi, Honda, and Mazda brands. The acquisition is expected to generate annualized revenue of approximately $115 million.
Chair and CEO Roger Penske said, “We are thrilled to have completed the acquisition of the well-respected BMW/MINI brands in Escondido. 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. I would like to welcome the 72 BMW/MINI of Escondido employees, including 22 technicians, to the Penske Automotive Group team.”
Year-to-date 2022, Penske Automotive Group has added approximately $665 million in annualized revenue through acquisitions and an open point.