Paccar Completes European Acquisition

U.S. truck maker Paccar Inc. said its finance subsidiary completed acquisition of a German truck leasing company.

Paccar Financial Services it entered into the agreement to purchase Truck Center Hauser GmbH.

The acquisition “accelerates the launch of the PacLease brand in Europe and sets the stage for rapid deployment in Germany and other European countries,” said Ron Armstrong, Paccar vice president.

TCH is headquartered near Frankfurt, Germany, and has 10 operating locations. It has a fleet of 1,200 trucks and 1,800 trailers serving about 3,000 customers.

The deal was first announced early last month.

Paccar, the parent of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co. and Europe-based DAF Trucks.