Acquires Two Toyota and Two Lexus Dealerships, including Longo Toyota, the Largest Toyota Dealership in the U.S.
Acquired Dealerships Expected to Add $1.5 Billion in Estimated Annualized Revenue
Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world’s premier automotive and commercial truck retailers with operations across four continents and nine countries, announced today that it has acquired Longo Toyota and Longo Lexus, located in El Monte, California, Lexus of Stevens Creek, located in San Jose, California, and Longo Toyota of Prosper, located in Prosper, Texas, a growing suburb of Dallas, Texas.
Highlights
- Acquired dealerships retailed over 28,000 new and used units in 2024
- Acquired dealerships expected to add $1.5 billion in estimated annualized revenue
- Longo Toyota #1 volume Toyota dealer in the U.S. for 58 consecutive years
- Longo Lexus #1 volume Lexus dealer in the Western Area of the U.S. for 35 years
- Lexus Stevens Creek #1 volume Lexus dealer in Northern California for 22 years
Commenting on the acquisitions, North American Operations Officer Rich Shearing said, “The acquisition of these premier dealerships represents a strategic addition to the Penske Automotive Group portfolio. The transaction strengthens our relationship with the Toyota and Lexus brands and expands the Company’s presence in southern California to the Los Angeles area, complements the Company’s existing presence in northern California and expands our operations in Texas to the fast-growing Dallas market. We look forward to continuing the outstanding legacy of these dealerships and are excited to welcome these new team members to Penske Automotive Group.”
The purchase price was funded from a combination of existing availability under the Company’s U.S. credit agreement and a note payable to the seller. The transaction closed on November 19, 2025. Further information has been provided in the Company’s Form 8-K filed with the Securities and Exchange Commission on November 19, 2025.
