Business
PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN FLORIDA
Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and eight countries, announced today that it has completed the acquisition of Lexus of Orlando and Lexus of Winter Park, two high-performing Lexus dealerships serving the fast-growing Central Florida market.
About this update from Penske Automotive Group, Inc.
[{"type":"text","content":"Completes Acquisition of Two Lexus Dealerships in Central Florida","length":65,"tagName":"p","attribs":{}},{"type":"text","content":"Expected to Add $450 Million in Annualized Revenue","length":50,"tagName":"p","attribs":{}},{"type":"text","content":"Brings Estimated Annualized Acquired Revenue to $2 Billion Since November","length":73,"tagName":"p","attribs":{}},{"type":"text","content":"BLOOMFIELD HILLS, Mich., Feb. 24, 2026 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and eight countries, announced today that it has completed the acquisition of Lexus of Orlando and Lexus of Winter Park, two high-performing Lexus dealerships serving the fast-growing Central Florida market.","length":486,"tagName":"p"},{"type":"text","content":"The acquisition strengthens Penske Automotive Group's premium luxury portfolio, expands its footprint in Florida, one of the nation's fastest growing states, and strengthens its relationship with the Lexus brand. The acquired dealerships are expected to add estimated annualized revenue of $450 million, increasing the Company's revenue derived in the fast-growing Florida market by almost 50%. Since November 2025, the Company has acquired two Toyota and four Lexus dealerships which are expected to generate approximately $2 billion in estimated annualized revenues.","length":580,"tagName":"p"},{"type":"text","content":"Commenting on the acquisition, North American Operations Officer Rich Shearing said, "We are excited to welcome the teams at Lexus of Orlando and Lexus of Winter Park to the Penske Automotive Group family and are proud to expand our partnership with Lexus in a market with a long-term growth potential. These premier dealerships have built a strong reputation for exceptional customer service and operational excellence. We look forward to continuing that legacy while leveraging the Company's existing infrastructure in Central Florida."","length":552,"tagName":"p"},{"type":"text","content":"The Company funded the purchase price for the dealerships and associated real estate using cash flow from operations and availability under its U.S. credit agreement.","length":166,"tagName":"...