Penske Automotive Group said Monday afternoon it has bought Schumacher European, LTD., a Mercedes-Benz and Sprinter store in Phoenix that is next to Penske’s existing 15-franchise Scottsdale 101 Auto Collection.
This purchase represents the retailer’s ninth Mercedes store in the U.S. and is projected to bring in about $250 million in annual revenues, the company said.
"Schumacher European is a well-respected and top performing Mercedes-Benz dealership," Penske Automotive Group chairman Roger Penske said in a news release.
"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,” Penske said.
“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.”