Bloomfield Township-primarily based Penske Automotive Group Inc. has acquired BMW/Mini of Escondido, together with a collision middle, positioned in Escondido, Calif. Phrases of the offer had been not disclosed.
The obtained dealership and collision heart are portion of the Escondido Auto Mall, the place Penske presently operates Acura, Audi, Honda, and Mazda dealerships. The acquisition is predicted to make once-a-year earnings of around $115 million.
“We are thrilled to have done the acquisition of the properly-highly regarded BMW/Mini makes in Escondido,” says Roger Penske, CEO and chairman of Penske Automotive Team. “It strengthens the scale of our offerings in the Escondido Auto Mall and adds added depth to our connection with the BMW and Mini brand names.”
Penske says he welcomes the 72 BMW/Mini of Escondido workers, such as 22 experts, to the Penske Automotive Team group.
So considerably in 2022, Penske Automotive Team — a diversified worldwide transportation services organization and 1 of the world’s premier automotive and professional truck suppliers — has added close to $665 million in annualized income as a result of acquisitions and an open issue.