Penske Automotive Group, Inc. (NYSE:PAG) announced that it has acquired Erhard BMW of Bloomfield, located in Bloomfield Hills, Mich., representing the company’s 48th BMW dealership world-wide.
Commenting on the acquisition, President Rob Kurnick said, “This dealership has a strong legacy of serving BMW enthusiasts in the metropolitan Detroit market for over 50 years. We are thrilled to expand our presence and relationship with the BMW brand and welcome Erhard BMW of Bloomfield, the largest BMW dealership in Michigan, to the Penske Automotive Group team.”
The acquired dealership is expected to generate approximately $100 million in annualized revenue. Year-to-date, Penske Automotive
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