Penske Closes Deal in U.K. Featured
05 January 2018
Penske Automotive Group Inc. has completed the acquisition of The Car People, one of the U.K.'s leading retailers of used vehicles. The Car People has been in operation since 2000 and has four large-scale retail locations. The Car People sells approximately 18,000 vehicles annually and is expected to generate estimated annualized revenue of approximately $300 million. On a combined basis, the company's Used Car Supermarket business in the U.K. is expected to sell more than 55,000 vehicles annually.