Penske Automotive Group Acquires Canadian Firm Team Truck Centres
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Penske Automotive Group has acquired London, Ontario-based Team Truck Centres, a retailer of medium- and heavy-duty Freightliner and Western Star commercial trucks.
Penske said the acquisition, announced Feb. 28, is expected to generate approximately $150 million in annualized revenue while building further scale within its Premier Truck Group subsidiary.
“We are thrilled to welcome Team Truck Centres,” Premier Truck Group President Richard Shearing said. “These new locations are complementary to our existing locations in Ontario, improve our scalability and increase our ability to service trucks remotely through Team Truck Centres mobile product support vehicles.”
Penske said the acquisition includes four full-service dealerships in Ontario. Premier Truck Group now will have 11 commercial truck dealership locations in Canada. That also means the subsidiary will operate 41 North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Kansas, Missouri, Utah, Idaho and Ontario, Canada, which generate nearly $3 billion in aggregate annual revenue.
Penske Logistics ranks No. 14 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics
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