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Penske Automotive Group has agreed to acquire Rybrook Group’s 15 premium dealerships in the UK.
Rybrook has 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.
Darren Edwards, CEO of Sytner Group, which is owned by Penske, said, “We are delighted to announce this transaction.
“The Rybrook dealerships represent exceptional brands with a strong commitment to providing exceptional customer service.
“We look forward to continuing this legacy and welcoming these franchises to our team.”
The dealerships to be acquired represent estimated annualized revenues of $1bn (£798m).