Penske Automotive Group to acquire Lexus of Orlando and Lexus of Winter Park

Penske Automotive Group, an international transportation services company operating automotive dealerships, agreed to acquire Lexus of Orlando, and Lexus of Winter Park, the luxury automotive dealerships offering sales of new and used Lexus vehicles. Financial terms were not disclosed. "The acquisition of these premier Lexus dealerships represents another strategic addition to the Penske Automotive Group portfolio. The acquired dealerships will expand the Company's scale in one of the fastest growing states in the country while leveraging the Company's existing infrastructure in Central Florida," Rich Shearing, Penske Automotive Group North American Operations Officer.