Penske Automotive Group, Inc. (PAG) has completed the acquisition of a Ferrari dealership in Modena, Italy.
Located in Emilia Romagna, the heart of the Italian Motor Valley, this Ferrari dealership expands Penske Automotive Group’s existing luxury presence in Italy to 29 automotive retail locations.
The company now represents nine Ferrari locations worldwide, including Maranello Classic Parts, the only official Ferrari classic parts distributor in the world.
The estimated annualized revenue of the Modena location for Penske Automotive Group, Inc. is $40 million.
Randall Seymore, Head of International Operations at the company, said, We are honored to represent the Ferrari brand at such an iconic location in Italy.
