The move is part of Perrysâ€™ expansion strategy through selective acquisition and to increase its portfolio of prestige marques.
The site in Cradock Road has been rebranded and will be overseen by Perrys central regional director John Daley. The dealershipâ€™s current staff would be retained, he said.
Mr Daley added: “The acquisition of the Land Rover business in Luton is very significant for Perrys.”
It was the groupâ€™s third Land Rover dealership and its first in the south of England.
Perrys managing director Ray Sommerville said: “The purchase of the Land Rover franchise in Luton is part of Perrysâ€™ overall strategic plan to grow the business through selective acquisitions in specific areas of the country, and to increase our stable of prestige marques.”
The group was aiming to make further acquisitions this year, Mr Sommerville added.