CARY, N.C. -

Penske Automotive Group didn’t have to go far for its latest purchase.

The retailer said Tuesday it has acquired Erhard BMW of Bloomfield, which is just over a mile away from and located on the same street as Penske’s Bloomfield Hills, Mich., headquarters.

The store is Penske’s 48th BMW store globally and the automaker’s largest in Michigan, the retailer said.

Penske anticipates the store will generate annualized revenues of $100 million. The retailer has added roughly $1.2 billion in expected annualized revenues from its completed purchases so far this year.

“This dealership has a strong legacy of serving BMW enthusiasts in the metropolitan Detroit market for over 50 years,” Penske Automotive Group president Rob Kurnick said in a news release.

“We are thrilled to expand our presence and relationship with the BMW brand and welcome Erhard BMW of Bloomfield, the largest BMW dealership in Michigan, to the Penske Automotive Group team,” he said.

Moving from Michigan to Ohio, Ricart Automotive has purchased Dan Tobin Chevrolet and Dan Tobin Buick, according to a news release from Haig Partners LLC, which advised Dan Tobin on the deal.

Both Ricart and the Dan Tobin stores are located in the Columbus area.

In a news release from Haig, Dan Tobin said: “Spending the majority of my career in the automotive industry, making the decision to sell has been bittersweet. It was important to me the reputation my team and I have developed in the community continues, our employees have ongoing opportunities to succeed, and our customers continue to receive the great experience they have come to expect.

“Kevin Nill and his team at Haig Partners shepherded me along this journey and I couldn't be more grateful for their knowledge of the process, depth of their relationships, and commitment to finding us not just any buyer, but the right buyer with Rhett Ricart and his team and Ricart Automotive,” he said.

Rhett Ricart added: “We are so excited to be acquiring an incredible business from a great automotive dealer. Dan Tobin should be so proud of what he's built, and we're grateful for his trust in us to be the new caretakers of his dealership and his team. More than anything, we love the people in Dublin and can’t wait to be a part of the community.”

In additional dealer buy-sell news, North Carolina’s Team Auto Group has acquired John Greene Chrysler Dodge Jeep Ram in Morganton, N.C., according to this LinkedIn post from Team Auto Group president Kristin Dillard.

With the purchase, Team Automotive Group now has six stores throughout North Carolina.

Sticking with the Carolinas, Hudson Automotive Group has purchased Dave Edwards Toyota of Spartanburg, S.C., according to a LinkedIn post from The Presidio Group, which advised Hudson.

Hudson Automotive Group has more than two dozen dealerships throughout North Carolina, South Carolina, Georgia, Ohio, Louisiana, Kentucky, Alabama and Tennessee, according to its website.