Prnewswireยท2025-11-19 11:57Core Insights - Penske Automotive Group has acquired four dealerships, including Longo Toyota, the largest Toyota dealership in the U.S., which is expected to add approximately $1.5 billion in estimated annualized revenue [1][5]. Group 1: Acquisition Details - The acquired dealerships include Longo Toyota and Longo Lexus in El Monte, California, Lexus of Stevens Creek in San Jose, California, and Longo Toyota of Prosper in Texas [1][2]. - The acquisition strengthens Penske's relationship with Toyota and Lexus, expands its presence in Southern California, and enhances operations in the fast-growing Dallas market [2]. Group 2: Financial Aspects - The purchase price was funded through a combination of existing credit availability and a note payable to the seller [2]. - The transaction closed on November 19, 2025, and further details were filed in the Company's Form 8-K with the SEC [2]. Group 3: Dealership Performance - The acquired dealerships retailed over 28,000 new and used units in 2024 [5]. - Longo Toyota has been the number one volume Toyota dealer in the U.S. for 58 consecutive years, while Longo Lexus has held the title of number one volume Lexus dealer in the Western U.S. for 35 years [5].