Michigan-based Penske Automotive Group Inc. has acquired three of the Fuller auto dealerships in Chula Vista as well as the Fuller Collision Center.
Financial terms of the deal were not disclosed. The asset purchase transaction closed June 5.
The SoCal Penske Dealer Group acquired the assets of Fuller Ford, Fuller Honda and Fuller Kia, all on Chula Vista’s Auto Park Drive, as well as the collision center.
“Fuller Motors is one of the largest employers in the city of Chula Vista. A great deal of effort from both sides went into ensuring a smooth transition for the Fuller employees,” said CEO Roger S. Penske Jr.
Penske called the closure of the deal “a significant milestone” for the SoCal Penske Dealer Group.
The stores will be rebranded Penske Ford Chula Vista, Penske Honda Chula Vista, Penske Kia Chula Vista and Penske Collision Center Chula Vista.
Penske now has 14 dealerships in Southern California, including many in San Diego’s Kearny Mesa neighborhood.
Local
Shares of Penske trade on the New York Stock Exchange under the symbol PAG. The corporation reported revenue of $20.1 billion in 2016.
[[283098621,C]]
