Penske Buys Bill Brown Ford in Michigan
Penske Automotive Group recently acquired Bill Brown Ford in Livonia, MI. Serving Michigan’s largest county by population, the dealership is forecast to add $550 million in estimated annualized revenue, according to Penske officials.
As part of the acquisition, the company will acquire over 200,000 square feet of existing facilities across 29 acres, including a main dealership premises, a pre-owned facility, a fleet maintenance center and a collision center.
Penske Automotive Group North American Operations Officer Rich Shearing said the company was pleased to expand their retail automotive footprint in the Midwestern U.S. as well as their relationship with Ford.
“For decades, Bill Brown Ford has been building partnerships within its community by creating an environment that focuses on exceeding the expectations of its customers and empowering its employees,” said Shearing. “We look forward to cultivating those partnerships and welcome the employees of Bill Brown Ford to the Penske Automotive Group team.”
Year-to-date 2024, Penske Automotive Group has completed acquisitions representing nearly $2 billion in estimated annualized revenue.
Cardinale Automotive Group Buys California Property
A vacant 1.6-acre property in San Bruno, CA, has been sold to the Cardinale Automotive Group with plans to build a three-story Hyundai and Genesis car dealership at the site.
The lot, purchased for just over $5 million from the city, was acquired by San Bruno in 2012 with the goal of turning it into a jobs and revenue-generating development, an objective that was fulfilled by the purchase. Up to 70 jobs are anticipated to be created through the new dealership and over 100 during construction.
Development for the new dealership is anticipated to start this summer and be completed by late 2025. The Cardinale Automobile group has been operating a temporary location at The Shops at Tanforan in San Bruno, and the purchase now makes their presence in the city permanent.
City officials noted the unique nature of the project — including its 171,610 square-foot, three-story structure — makes it unlike other car dealerships, which are often spread over multiple acres of asphalt.
“It’s going to be a unique, innovative auto dealership,” City Manager Alex McIntyre said.
Gill Automotive Purchases Dealership from Tekion Corp.
Gill Automotive Group has acquired Gilroy Buick GMC from dealership management system provider Tekion Corp.
Located in the Gilroy auto mall, Gilroy Buick GMC joins Gilroy Chevrolet Cadillac and Gilroy Chrysler Dodge Jeep Ram.
Tekion purchased the dealership four years ago to help develop and test its technology.