Auto Dealerships M&A » By The Online Investor Staff, updated Fri., Apr. 26, 8:05 AM
Recent mergers and acquisitions in the Auto Dealerships M&A category.
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Slide #2. Penske Automotive — BMW Of Greenwich
Acquirer:
Penske Automotive (NYSE:PAG)
Acquiree:
BMW Of Greenwich
Details:
Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, announced today that it has acquired BMW of Greenwich located in Greenwich, Connecticut. The company estimates the new BMW dealership will generate approximately $190 million in revenue on an annualized basis.
Penske Automotive Group is an international transportation services company and an automotive and commercial truck retailers. Co. operates dealerships principally in the U.S., the United Kingdom, Canada, Germany, Italy, and Japan. Co. has four reportable segments: Retail Automotive, consisting of its retail automotive dealership operations; Retail Commercial Truck, consisting of its retail commercial truck dealership operations in the U.S. and Canada; Other, consisting of its commercial vehicle and power systems distribution operations and other non-automotive consolidated operations; and Non-Automotive Investments, consisting of its equity method investments in non-automotive operations.
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Avg. Broker Rec.
 
|
Hold (2.45 out of 4) 3rd percentile
(ranked lower than approx. 97% of all stocks covered)
Analysts' Target Price: PAG Stock Forecast Based on Zacks ABR data; powered by Xignite |
