Penske Automotive buys U.K. auto retailer

• Penske Automotive Group (NYSE:PAG) announces that it acquired U.K. retailer CarShop for an undisclosed amount.
• CarShop has five large-scale retail locations operating in the U.K., plus a 15-acre vehicle preparation center.
• "The acquisition of CarShop furthers our diversification strategy within the transportation services industry, and is complementary to our existing core auto retail business,"  notes Roger Penske.
• Source: Press Release