Peter Warren Automotive Holdings → Penfold Motor Group
completedPeter Warren Automotive agreed to acquire Melbourne family dealership group Penfold Motor Group (10 sites across south/east Melbourne) for A$104 million, completing 1 December 2021 — its first major acquisition following its April 2021 ASX listing.
Peter Warren wanted to expand its dealership footprint into Victoria via an established multi-site family dealership network.
The Penfold family vendors received a mix of cash and newly listed Peter Warren shares, aligning them with the combined group's future performance.
Not specifically detailed in available coverage; Peter Warren shares rose on a separate later Victorian dealership acquisition.
Deal mechanics
Allens (legal adviser to Penfold Motor Group)
A$88m cash plus A$16m in new Peter Warren shares to vendors, funded partly via a new $96m debt facility secured against the Warwick Farm property
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