Penske Automotive Group has expanded its retail automotive operations into Australia, acquiring two Porsche dealerships and a Ducati motorcycle dealership in Melbourne.
The group signed an agreement to acquire Porsche Centre Brighton, Porsche Centre Doncaster and Ducati Melbourne West. The Brighton dealership, located approximately 20 minutes from central Melbourne, opened in March 2009 while the Doncaster dealership is the newest official Porsche Centre located in the high-growth north-eastern Melbourne suburbs.
“We are delighted to announce this transaction and expand our partnership with the Porsche brand,” said Randall Seymore, Penske Automotive Group Head of International Operations. “For over 10 years we have strategically built a diverse commercial vehicle and power systems business that operates across Australia and New Zealand based on our commitment to strong customer service.
“With this acquisition, we will leverage that existing infrastructure and our significant experience in the retail automotive industry to drive growth of the Porsche brand in Melbourne by building a relationship with Porsche enthusiasts through a focus on the customer experience.”
The acquisition is expected to close in the second quarter of 2024, subject to “customary conditions”.