PENSKE AUTOMOTIVE GROUP SIGNS AGREEMENT TO ACQUIRE ADDITIONAL PORSCHE DEALERSHIP IN MELBOURNE, AUSTRALIA
Penske Automotive Group (NYSE: PAG) has signed an agreement to acquire Porsche Centre Melbourne from Porsche Retail Group Australia Pty This acquisition will be PAG's third Porsche location in Melbourne and 25th worldwide. The deal is expected to add $130 million in annualized revenue, bringing the total estimated revenue for the three Melbourne Porsche Dealerships to $260 million. The transaction is anticipated to close by year-end, subject to customary conditions. This expansion strengthens PAG's presence in Australia and enhances its partnership with Porsche in delivering exceptional customer experiences.
Penske Automotive Group (NYSE: PAG) ha firmato un accordo per acquisire Porsche Centre Melbourne dal Porsche Retail Group Australia Pty. Questa acquisizione sarà la terza sede Porsche di PAG a Melbourne e la 25ª a livello mondiale. Si prevede che l'accordo aggiunga 130 milioni di dollari in ricavi annualizzati, portando il totale stimato dei ricavi per i tre concessionari Porsche di Melbourne a 260 milioni di dollari. Si prevede che la transazione si chiuda entro la fine dell'anno, soggetta a condizioni abituali. Questa espansione rafforza la presenza di PAG in Australia e migliora la sua partnership con Porsche nell'offrire esperienze eccezionali ai clienti.
Penske Automotive Group (NYSE: PAG) ha firmado un acuerdo para adquirir Porsche Centre Melbourne del Porsche Retail Group Australia Pty. Esta adquisición será la tercera ubicación de Porsche para PAG en Melbourne y la vigésima quinta a nivel mundial. Se espera que el acuerdo aporte 130 millones de dólares en ingresos anuales, llevando el total estimado de ingresos de los tres concesionarios de Porsche en Melbourne a 260 millones de dólares. Se anticipa que la transacción se cierre a fines de año, sujeta a condiciones habituales. Esta expansión fortalece la presencia de PAG en Australia y mejora su asociación con Porsche para ofrecer experiencias excepcionales a los clientes.
Penske Automotive Group (NYSE: PAG)가 Porsche Retail Group Australia Pty로부터 Porsche Centre Melbourne을 인수하기 위한 계약을 체결했습니다. 이번 인수는 PAG의 멜버른 내 세 번째 포르쉐 매장이자 전 세계 25번째 매장이 될 것입니다. 이번 거래를 통해 연간 1억 3천만 달러의 수익을 추가할 것으로 예상되며, 멜버른의 세 개 포르쉐 대리점의 총 예상 수익은 2억 6천만 달러에 이를 것입니다. 거래는 연말까지 마감될 것으로 예상되며, 일반적인 조건에 따릅니다. 이번 확장은 PAG의 호주 내 입지를 강화하고 우수한 고객 경험을 제공하기 위한 포르쉐와의 파트너십을 강화합니다.
Penske Automotive Group (NYSE: PAG) a signé un accord pour acquérir Porsche Centre Melbourne du Porsche Retail Group Australia Pty. Cette acquisition sera la troisième adresse Porsche de PAG à Melbourne et la 25e dans le monde. On estime que cet accord ajoutera 130 millions de dollars de revenus annuels, portant le total estimé des revenus pour les trois concessions Porsche de Melbourne à 260 millions de dollars. La transaction devrait être finalisée d'ici la fin de l'année, sous réserve des conditions habituelles. Cette expansion renforce la présence de PAG en Australie et améliore son partenariat avec Porsche pour offrir des expériences client exceptionnelles.
Die Penske Automotive Group (NYSE: PAG) hat eine Vereinbarung zum Erwerb des Porsche Centre Melbourne von der Porsche Retail Group Australia Pty unterzeichnet. Diese Akquisition wird der dritte Porsche-Standort von PAG in Melbourne und der 25. weltweit sein. Es wird erwartet, dass der Deal 130 Millionen Dollar an annualisierten Einnahmen hinzufügt, wodurch die geschätzten Gesamteinnahmen für die drei Porsche-Händler in Melbourne auf 260 Millionen Dollar steigen. Die Transaktion soll bis zum Ende des Jahres abgeschlossen werden, vorbehaltlich der üblichen Bedingungen. Diese Expansion stärkt die Präsenz von PAG in Australien und verbessert die Partnerschaft mit Porsche zur Bereitstellung außergewöhnlicher Kundenerlebnisse.
- Acquisition adds $130 million in estimated annualized revenue
- Expands Porsche dealership portfolio to 25 locations worldwide
- Strategic expansion in Melbourne market with third Porsche location
- Combined Melbourne Porsche dealerships to generate $260 million in estimated annual revenue
- None.
Insights
This strategic acquisition strengthens Penske Automotive's presence in the luxury car market and expands its footprint in Australia. The
The luxury automotive sector, particularly Porsche, has shown resilience in economic downturns and maintains strong profit margins. This acquisition capitalizes on the growing luxury vehicle market in Australia and should contribute positively to PAG's earnings. The timing is strategic, as luxury car sales have remained robust despite broader economic uncertainties.
The Australian luxury car market presents significant growth opportunities, with Melbourne being a key metropolitan hub for high-net-worth consumers. This acquisition positions PAG to capture a larger share of the premium vehicle segment in one of Australia's wealthiest cities. The consolidation of three Porsche dealerships in Melbourne creates operational synergies and strengthens PAG's bargaining power with suppliers.
The expansion demonstrates PAG's confidence in the Australian market and the Porsche brand's continued growth trajectory. With PAG's global expertise in luxury vehicle retail and their established presence in Australia, they're well-positioned to optimize operations and enhance customer experience across all three locations.
Acquisition Represents Third Porsche Location in
Commenting on the acquisition, Penske Automotive Group Head of International Operations Randall Seymore said, "We are thrilled to extend our relationship with Porsche in
About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in
Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s acquisition activity and future revenues. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, our ability to successfully complete the pending acquisition and satisfy applicable closing conditions, our ability to successfully integrate the acquired dealership into our existing operations and obtain certain contemplated synergies, those related to macro-economic, geo-political and industry conditions and events, including their impact on new and used vehicle sales, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, demand for trucks to move freight with respect to Penske Transportation Solutions (PTS) and Premier Truck Group, personal discretionary spending levels, interest rates, and unemployment rates; our ability to obtain vehicles and parts from our manufacturers, especially in light of supply chain disruptions due to natural disasters, the shortage of vehicle components, international conflicts, including the war in
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Penske Automotive Group, Inc. | Penske Automotive Group, Inc. |
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FAQ
How much revenue will the new Porsche Centre Melbourne acquisition add to PAG?
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