Penske Automotive Group Expands Presence in Florida

Completes Acquisition of Two Lexus Dealerships in Central Florida, Expected to Add $450 Million in Annualized Revenue

Published on Feb. 24, 2026

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Penske Automotive Group, a diversified international transportation services company, has completed the acquisition of Lexus of Orlando and Lexus of Winter Park, two high-performing Lexus dealerships serving the fast-growing Central Florida market. The acquisition is expected to add an estimated $450 million in annualized revenue and strengthen Penske's premium luxury portfolio and relationship with the Lexus brand in the fast-growing Florida market.

Why it matters

The acquisition expands Penske's footprint in Florida, one of the nation's fastest growing states, and further diversifies the company's automotive retail operations. It also demonstrates Penske's strategy of strategic acquisitions to drive growth and strengthen its position in key markets.

The details

The acquired dealerships are expected to add estimated annualized revenue of $450 million, increasing the Company's revenue derived in the fast-growing Florida market by almost 50%. Since November 2025, the Company has acquired two Toyota and four Lexus dealerships which are expected to generate approximately $2 billion in estimated annualized revenues.

  • Penske Automotive Group completed the acquisition on February 24, 2026.

The players

Penske Automotive Group, Inc.

A diversified international transportation services company and one of the world's premier automotive and commercial truck retailers with operations across four continents and eight countries.

Lexus of Orlando

A high-performing Lexus dealership serving the Central Florida market that was acquired by Penske Automotive Group.

Lexus of Winter Park

A high-performing Lexus dealership serving the Central Florida market that was acquired by Penske Automotive Group.

Rich Shearing

North American Operations Officer at Penske Automotive Group.

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What they’re saying

“We are excited to welcome the teams at Lexus of Orlando and Lexus of Winter Park to the Penske Automotive Group family and are proud to expand our partnership with Lexus in a market with a long-term growth potential. These premier dealerships have built a strong reputation for exceptional customer service and operational excellence. We look forward to continuing that legacy while leveraging the Company's existing infrastructure in Central Florida.”

— Rich Shearing, North American Operations Officer (PRNewswire)

What’s next

The Company funded the purchase price for the dealerships and associated real estate using cash flow from operations and availability under its U.S. credit agreement.

The takeaway

This acquisition demonstrates Penske Automotive Group's strategy of strategic growth through targeted acquisitions in key markets, further strengthening its premium luxury automotive retail portfolio and expanding its footprint in the fast-growing Florida market.