BLOOMFIELD HILLS—Penske Automotive Group Inc. (NYSE: PAG), the transportation services company, and Premier Truck Group, its commercial vehicle subsidiary, have completed the acquisition of Kansas City Freightliner, a retailer of medium and heavy-duty commercial trucks.
The acquisition is expected to generate $450 million in annualized revenue, building further scale within Premier Truck Group. The acquisition adds five full-service dealerships, four parts and service centers, and two collision centers located in Kansas and Missouri to the company’s existing operation.
“With its contiguous operating area to existing Premier Truck Group markets, KCFL is a natural extension of our existing business as we can offer an expanded service area to both our customer base and KCFL’s existing customers,” said PTG President Richard Shearing.
PTG now operates 30 North American commercial truck dealerships located in Georgia, Idaho, Kansas, Missouri, Oklahoma, Tennessee, Texas, Utah, and Ontario, Canada which is expected to generate approximately 20,000 annualized new and used unit sales and annualized revenue of approximately $2.5 billion.
Penske Automotive Group operates automotive and commercial truck dealerships, principally in the United States, the United Kingdom, Canada, and Western Europe, and distributes commercial vehicles, diesel and gas engines, power systems, and related parts and services, principally in Australia and New Zealand. More at www.penskeautomotive.com. The PTG subsidiary is based in Dallas, Texas.