Penske Automotive Group gains Jaguar, Land Rover dealerships in New Jersey

Penske Automotive Group has acquired Jaguar and Land Rover dealerships in New Jersey in a deal estimated to be worth $215 million in revenue annually, according to the Penske website.

The dealerships are based in Paramus and were sold by the Prestige Family of Fine Cars.

"We are pleased with the opportunity to add the Jaguar and Land Rover dealerships in Paramus to the Penske Automotive footprint," Penske Automotive Group President Robert Kurnick, Jr. said in the release. "These new dealerships enhance the company's existing portfolio and bring additional scale in the New Jersey/New York metropolitan area to our business. We welcome the employees to the Penske Automotive Group team and look forward to working with them to grow the Jaguar and Land Rover businesses in this important market area."

Including the new acquisitions, Penske operates five Jaguar and Land Rover dealerships in the United States.
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Organizations in this story

Penske Automotive Group 2555 Telegraph Road Bloomfield Township, MI 48302