Bloomfield Township-based Penske Automotive Group Inc. has acquired BMW/Mini of Escondido, along with a collision center, located in Escondido, Calif. Terms of the deal were not disclosed.
The acquired dealership and collision center are part of the Escondido Auto Mall, where Penske currently operates Acura, Audi, Honda, and Mazda dealerships. The acquisition is expected to generate annual revenue of approximately $115 million.
“We are thrilled to have completed the acquisition of the well-respected BMW/Mini brands in Escondido,” says Roger Penske, CEO and chairman of Penske Automotive Group. “It strengthens the scale of our offerings in the Escondido Auto Mall and adds additional depth to our relationship with the BMW and Mini brands.”
Penske says he welcomes the 72 BMW/Mini of Escondido employees, 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 premier automotive and commercial truck retailers — has added approximately $665 million in annualized revenue through acquisitions and an open point.