Penske Automotive Group, Inc., an international car dealer based in Bloomfield Hills, Michigan, has made a pact to buy motor rally is located in Long Iceland in the cities of Glen Cove, Roslyn and Westbury, New York. The company announced plans last Wednesday for his second Long Iceland acquisition.
Rallye dealer contract, a $ 700-million-year company affiliation, is famous for the production of luxury brands and known for the opulence of its facilities. The company manufactures the Acura, BMW, Lexus and Mercedes-Benz brands, as auto buyers a wide range of premium vehicle. Think of the Mercedes-Benz amenities, accessories Lexus, Acura brakes, BMW and upholstery. These are just a few slices of lavishness.
Rallye rally & 39; also owns and operates a stand-alone, 52,000-square-foot collision center. The center said is part of the acquisition. Based on rankings of each brand, rally Acura, BMW and Mercedes-Benz dealers are currently in the Top 20 of the brands " new unit sales in the United States.
The company was founded in 1958 by Terian & 39;& 39;s late husband, Peter, and a partner. Its 240 employees sell and service Acura, BMW, Lexus and Mercedes-Benz vehicles in Roslyn, Glen Cove and Westbury and the operation of a collision center. Within each brand, the rally & 39; are among the top-20 dealers in new vehicle sales, CNN divulged.
" rally engine a chance to own and operate outstanding brands in the huge Long Iceland retail automotive market & ; quot; said Penske Automotive Group President Roger S. Penske, Jr. " For over 45 years motor rally has focused on a commitment to customer service and loyalty. Once the acquisition is completed, these strong brands will further strengthen Penske Automotive the outstanding brand mix and complements our existing activities in the New York Metropolitan area. "
Rallye franchise represent about $ 700 million in revenue on an annual basis. The transaction is expected to close during the first quarter of next year and will be financed through cash flow from operations and availability under the American company credit agreement. As instructed, the closure of the sale transaction is subject to customary conditions, including due diligence and manufacturers approvals.
Penske franchise operates 307 retail automotive, representing 40 different brands, and 26 Collision Repair Center. The company, which sells new and previously owned vehicles, finance and insurance products and spare parts and provides maintenance and repair services for all brands represented, has 162 franchises in 19 states and Puerto Rico and 145 franchises located outside the United States; primarily in the United Kingdom, reported an ad-hoc-News. Currently, Penske is a member of the Fortune 500 and Russell 1000 and has 16000 employees.
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