Penske Automotive Group Inc. and Premier Truck Group (PTG), its wholly-owned commercial vehicle subsidiary, have completed the acquisition of Kansas City Freightliner (KCFL), a retailer of medium- and heavy-duty commercial trucks.
The KCFL acquisition is expected to generate $450 million in annualized revenue, building further scale within Premier Truck Group, according to an announcement.
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.
“We are thrilled to welcome Kansas City Freightliner to Premier Truck Group. 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,” says PTG President Richard Shearing.
PTG now operates thirty 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, the company says.