One Penske dealer group acquires another Penske dealer group

This story was originally published on WardsAuto. To receive daily news and insights, subscribe to our free daily WardsAuto newsletter. Penske Automotive Group (PAG) on November 19 announced it had acquired two Toyota and two Lexus dealerships, including Longo Toyota, the top Toyota dealership in the United States. Publicly listed PAG acquired the franchises from Penske Motor Group, part of Penske Corp. You might be forgiven for being a bit confused with all the Penskes in that paragraph. But the transa ...