Penske Automotive Group Inc. has acquired Oregon-based mostly McCoy Freightliner, rising its offering Of financial vans and growing its attain to the Pacific Northwest.
The deal, introduced Tuesday, brings Penske unit Premier Truck Group three dealerships and $200 million in annual income, Based on a press launch. Phrases of the deal Weren’t disclosed.
McCoy Freightliner, established in 2007, operated a pair of medium- and heavy-obligation Freightliner truck dealerships As properly as to a remarketing center for fleet and leased vans. These places have been positioned beneath the umbrella of Dallas-based mostly Premier Truck Group, which Penske acquired in 2014.
“McCoy expands our attain to the Pacific Northwest, servicing the Interstate 5 and 84 corridors, and is inside 600 miles of our current Idaho places, offering us with The prospect To reinforce Buyer assist whereas further scaling our operations,” Richard Shearing, president of Premier Truck Group, said Within The discharge.
Premier Truck Group has grown to 37 dealerships in North America with round $2.5 billion in annual income — $1.1 billion of which was added Prior to now yr by way of acquisitions. It took over Kansas Metropolis Freightliner earlier this yr, tacking on $450 million in annual income.