Peter Stevens Motorcycles completed the acquisition of Porsche dealerships and a Ducati dealership from Penske.

Peter Stevens Motorcycles, an Australia's premier family-owned motorcycle store, completed the acquisition of Porsche dealerships and a Ducati dealership from Penske, a diversified international transportation services company. Financial terms were not disclosed. "With this acquisition we will leverage that existing infrastructure and our significant experience in the retail automotive industry to drive growth of the Porsche brand in Melbourne by building a relationship with Porsche enthusiasts through a focus on the customer experience,” Randall Seymore, Penske Automotive Group Head of International Operations.