Penske Automotive to acquire Kansas City Freightliner

Penske Automotive to acquire Kansas City Freightliner
The acquisition of Kansas City Freightliner by Penske Automotive Group is expected to generate $450 million in annualized revenue.

BLOOMFIELD HILLS, Mich. — Penske Automotive Group Inc., an international transportation services company, announced March 4 it has entered into an agreement to acquire Kansas City Freightliner (KCFL), a retailer of medium- and heavy-duty commercial trucks.

KCFL 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 (PTG) currently operates 25 commercial truck dealerships located Texas, Oklahoma, Tennessee, Georgia, Utah, Idaho and Ontario, Canada, which generate more than $2 billion in annual revenue.

The KCFL acquisition is expected to generate $450 million in annualized revenue, expanding the company’s PTG subsidiary.

“We are thrilled to welcome Kansas City Freightliner to Premier Truck Group,” said Richard Shearing, president of 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,” he continued. “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.”

Closing of the transaction is expected during the second quarter of 2021 and is subject to customary closing conditions.

The Trucker News Staff produces engaging content for not only, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
For over 30 years, the objective of The Trucker editorial team has been to produce content focused on truck drivers that is relevant, objective and engaging. After reading this article, feel free to leave a comment about this article or the topics covered in this article for the author or the other readers to enjoy. Let them know what you think! We always enjoy hearing from our readers.