Penske Automotive Group Closes Buyout of 2 Porsche Dealerships in Australia-May 2024-www.financetom.com

Penske Automotive Group Closes Buyout of 2 Porsche Dealerships in Australia

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Penske Automotive Group Closes Buyout of 2 Porsche Dealerships in Australia

Jun 4, 2024 5:29 AM

08:13 AM EDT, 06/04/2024 (MT Newswires) -- Penske Automotive Group ( PAG ) said Tuesday it has closed the buyout of Melbourne, Australia-based Porsche Centre Brighton and Porsche Centre Doncaster, increasing Penske's portfolio to 24 Porsche dealerships globally.

The buyout would likely add about $130 million in annualized revenue, the company said.

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