Penske Corporation and Mitsui to Take Penske Automotive Group Private

Sumitomo Consortium Offers to Acquire FleetPartners for About $582 Million

August 27, 2026

Transportation

A consortium led by Sumitomo Corporation has offered A$813.1 million (about $582 million) to acquire Australia’s vehicle leasing and fleet management company FleetPartners, escalating a four-way takeover battle. The offer values FleetPartners at A$3.85 per share in cash and includes Sumitomo together with Sumitomo Mitsui Auto Service.

Fair Holdings Take-Private Acquisition of TrueCar for $227 Million

January 22, 2026

Transportation

Fair Holdings, led by TrueCar founder Scott Painter, completed a $227 million all-cash take-private acquisition of TrueCar. The deal is backed by a strategic investor group including PenFed Credit Union, Zurich North America, AutoNation, Atlantic Coast Automotive, and technology partners such as Impel AI, ID.me, CRIF, and In The Car.

Penske Automotive Group Acquires Four Toyota and Lexus Dealerships from Longo Entities

November 19, 2025

Automotive

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).

Penske Automotive Group Acquires Porsche Centre Melbourne

December 2, 2024

Automotive

Penske Automotive Group, Inc. has completed the acquisition of Porsche Centre Melbourne from Porsche Retail Group Australia Pty Ltd. The purchase adds the dealer as Penske’s third Porsche location in Melbourne (25th worldwide) and is expected to contribute approximately $130 million of annualized revenue, bringing Melbourne Porsche revenue to an estimated $260 million.

Penske Automotive Group Acquires Bill Brown Ford

July 16, 2024

Automotive

Penske Automotive Group has acquired Bill Brown Ford, a longtime Ford dealership located in Livonia, Michigan, expanding Penske’s North American retail footprint in the Midwest. The acquisition includes more than 200,000 square feet of facilities across 29 acres (dealership, pre-owned facility, fleet maintenance and collision center) and is expected to add about $550 million in estimated annualized revenue.

Penske Automotive Group Acquires Rybrook Group Limited (15 UK Dealerships)

January 8, 2024

Automotive

Penske Automotive Group has completed the acquisition of Rybrook Group Limited, adding 15 premium dealerships across the United Kingdom (BMW, MINI, Volvo, Land Rover and Porsche) with estimated annualized revenues of $1.0 billion. The deal expands Penske's UK footprint through its Sytner Group subsidiary and brings the Rybrook associates into the Penske/Sytner business.