Bloomfield Township-based Penske Automotive Group Inc. has acquired BMW/Mini of Escondido, along with a collision center, located in Escondido, California. Terms of the agreement were not disclosed.
The acquired dealership and collision center is part of the Escondido Auto Mall, where Penske currently operates Acura, Audi, Honda and Mazda dealerships. The acquisition is expected to generate annual revenues of approximately $115 million.
“We are delighted to have completed the acquisition of the highly respected BMW/Mini brands in Escondido,” said Roger Penske, CEO and President of Penske Automotive Group. “This reinforces the breadth of our offerings in the Escondido Auto mall and adds additional depth to our relationship with the BMW and Mini brands.”
Penske says it welcomes the 72 BMW/Mini employees of Escondido, including 22 technicians, to the Penske Automotive Group team.
So far in 2022, Penske Automotive Group – a diversified international transportation services company and one of the world’s leading retailers of commercial automobiles and trucks – has added approximately $665 million in annualized revenue through acquisitions and an open point.