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UnitedAuto Group, Inc., a Fortune 500 automotive specialty retailer, on Jan. 23 announced that it has acquired Moran Cadillac located in Torrance, Calif.
The newly acquired dealership will be renamed Penske Cadillac South Bay. This dealership is expected to generate approximately $30 million in revenue on an annual basis.
"We are delighted with the opportunity to represent General Motors' premier brand in the South Bay area of Los Angeles County," said Roger Penske, chairman of UnitedAuto. "The Cadillac brand, with its many new products, represents an exciting opportunity for UnitedAuto in this market. With this acquisition, UnitedAuto now operates 23 General Motors franchises in North America."
About UnitedAuto
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 138 franchises in the United States and 83 franchises internationally, primarily in the United Kingdom.
UnitedAuto dealerships sell new and used vehicles, and market a complete line of after-market automotive products and services.
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