Penske Automotive Group has confirmed it has completed the acquisition of two vehicle dealerships in Melbourne.
The international transport and truck retailer has spread its operations across four continents and nine countries, with the acquisition of Porsche Centre Brighton and Doncaster expanding its portfolio to 24 Porsche dealerships worldwide.
Penske estimates the acquisitions to add $130 million in estimated annualised revenue.
“We are delighted to grow our presence in Australia while expanding our worldwide partnership with the Porsche brand,” Penske Automotive Group head of international operations Randall Seymore says.
We look forward to representing Porsche and serving customers in this important market while leveraging our existing operations in Australia.”
Upon finalising the acquisition, Penske decided to dispose of the Ducati dealership associated with the acquisition for strategic purposes.