Penske Automotive Group Acquires Four Toyota and Lexus Dealerships from Longo Entities
November 19, 2025
Penske Automotive Group acquired four high-volume Toyota and Lexus dealerships — Longo Toyota, Longo Lexus (El Monte), Lexus of Stevens Creek (San Jose), and Longo Toyota of Prosper (Texas) — expanding its presence in Southern and Northern California and the Dallas market. The stores retailed more than 28,000 new and used vehicles in 2024, are expected to add roughly $1.5 billion in annualized revenue, and the transaction closed on November 19, 2025 (financed via the company’s U.S. credit agreement and a note payable to the seller).
- Buyers
- Penske Automotive Group
- Targets
- Longo Toyota, Longo Lexus, Lexus of Stevens Creek, Longo Toyota of Prosper
- Sellers
- D. Longo, Inc., El Monte Automotive Group, Inc., LTP Automotive, LLC, S J Automotive, LLC
- Industry
- Automotive
- Location
- United States
- Transaction Type
- Buyout
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