Penske Automotive announced that it has agreed to acquire Rybrook Group consisting of 15 premium dealerships in the United Kingdom, including four BMW dealerships, four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Additionally, three of the BMW locations also retail BMW Motorrad motorcycles. The dealerships to be acquired represent estimated annualized revenues of $1B. The company has received certain regulatory approvals. The acquisition is anticipated to be funded using the company’s existing liquidity and is expected to close in January 2024, subject to customary conditions.
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