Bloomfield Hills’ Penske Automotive Group Inc. and its Premier Truck Group have acquired Kansas City Freightliner, a retailer of medium- and heavy-duty commercial trucks. Terms of the transaction were not disclosed.
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. It is expected to generate $450 million in annualized revenue within the Premier Truck Group, which is based in Dallas.
“We are thrilled to welcome Kansas City Freightliner to Premier Truck Group,” says Richard Shearing, president of the Penske PTG. “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.”
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 is a diversified international transportation services company that operates automotive and commercial truck dealerships principally in the United States, the United Kingdom, Canada, and Western Europe. It distributes commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand.