Penske Agrees to Acquire Kansas City Freightliner
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Penske Automotive Group Inc. announced it entered into an agreement to acquire Kansas City Freightliner, a retailer of medium- and heavy-duty commercial trucks.
Penske expects the acquisition is to generate $450 million in annual revenue, and build further scale within its Premier Truck Group subsidiary.
Freightliner is a brand of Daimler Trucks North America.
Kansas City Freightliner, based in Missouri, will add five full-service dealerships, four parts and service centers, and two collision centers located in Kansas and Missouri to its existing operations.
Premier Truck Group operates 25 North American commercial truck dealerships located in Texas, Oklahoma, Tennessee, Georgia, Utah, Idaho and Ontario, Canada.
“Upon completion of this transaction, our PTG business is expected to generate nearly 20,000 new and used unit sales annually and is expected to generate annual revenue of approximately $2.5 billion,” PTG President Richard Shearing said in a release.
Penske Automotive Group is based in Bloomfield Hills, Mich. It is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, the United Kingdom, Canada and Western Europe and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand.
Penske Logistics ranks No. 15 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. It ranks No. 8 on the TT list of the 50 largest logistics companies in North America. — Transport Topics
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