Penske Automotive Group intends to expand its retail automotive operations into Australia by acquiring two Porsche dealerships and a Ducati motorcycle dealership in Melbourne, Australia.
The Company has agreed to acquire Porsche Centre Brighton, Porsche Centre Doncaster and Ducati Melbourne West, with the deal expected to close in the second quarter of 2024, subject to conditions.
The Brighton dealership, located approximately 20 minutes from central Melbourne, opened in March 2009 and has served the Porsche community in Melbourne for nearly 15 years. The Doncaster dealership is the newest official Porsche Centre in the high-growth northeast Melbourne suburbs.
“We are delighted to announce this transaction and expand our partnership with the Porsche brand. We have strategically built a diverse commercial vehicle and power systems business across Australia and New Zealand for over ten years based on our commitment to solid customer service,” Penske Automotive Group head of international operations Randall Seymore says.
With this acquisition, we will leverage that existing infrastructure and our significant experience in the retail automotive industry to drive the growth of the Porsche brand in Melbourne by building a relationship with Porsche enthusiasts that focuses on the customer experience.”
According to Go Auto, these three dealerships are the last to be divested by the Auswild Family-owned Preston Motor Group, which has been selling off its automotive retail businesses over the past few years.
