Penske Automotive Group, based in Bloomfield Hills, Michigan, said it recently acquired Schumacher European Ltd., a Mercedes-Benz and Sprinter dealership in Phoenix.
"Schumacher European is a well-respected and top performing Mercedes-Benz dealership," Penske Automotive Group Chairman Roger Penske said in a release on Penske's website. "This new dealership expands and enhances our premium/luxury footprint in the Phoenix metropolitan market and further strengthens the company's overall automotive retail portfolio. We welcome the Schumacher European employees to the Penske Automotive Group team and look forward to working with them to grow the Mercedes-Benz business in this important market area."
Penske now has nine Mercedes-Benz dealerships in the United States, and the newest acquisition is expected to bring in $250 million per year, the release said.