Penske Automotive Acquired by Penske Corp. and Mitsui in $16.3 Billion Deal

Penske Automotive Group is set to become a privately held company following a deal in which Penske Corporation and Mitsui & Co. will acquire the remaining shares they do not already own. The transaction values the dealership giant at approximately $16.3 billion, according to WardsAuto. Upon completion, ownership will be split roughly 64% for Penske and 36% for Mitsui.

This move takes Penske Automotive off the public market, ending its run as a listed entity. Penske Corporation, led by Roger Penske, already holds a significant stake in the auto retailer, and Mitsui has been a long-term partner. By purchasing the remaining equity, the two parties consolidate control and streamline decision-making without the pressures of quarterly earnings and shareholder expectations.

The deal reflects a broader trend of consolidation in the automotive retail sector. As dealership groups face rising costs for electric vehicle infrastructure, digital transformation, and regulatory compliance, scale and private ownership can offer strategic flexibility. Penske Automotive operates numerous franchised dealerships across the United States, the United Kingdom, and other international markets, representing a wide array of brands.

While the immediate operational impact on customers and employees is expected to be minimal, the going-private transaction could allow Penske to invest in long-term initiatives—such as EV readiness and online sales platforms—away from short-term market scrutiny. The valuation underscores the substantial value of Penske’s diversified portfolio, which includes not only new and used vehicle sales but also parts, service, and financing operations.

The transaction is subject to customary closing conditions and regulatory approvals. Once finalized, Penske Automotive will join a growing list of automotive businesses that have opted to exit the public markets in recent years. Neither Penske Corporation nor Mitsui has disclosed specific plans for changes to the company’s operations or management following the buyout.