Penske Automotive Group Inc. has acquired Oregon-based McCoy Freightliner, growing its offering of commercial trucks and expanding its reach to the Pacific Northwest.
The deal, announced Tuesday, brings Penske unit Premier Truck Group three dealerships and $200 million in annual revenue, according to a press release. Terms of the deal were not disclosed.
McCoy Freightliner, established in 2007, operated a pair of medium- and heavy-duty Freightliner truck dealerships as well as a remarketing center for fleet and leased trucks. Those locations have been placed under the umbrella of Dallas-based Premier Truck Group, which Penske acquired in 2014.
“McCoy expands our reach to the Pacific Northwest, servicing the Interstate 5 and 84 corridors, and is within 600 miles of our existing Idaho locations, providing us with the opportunity to improve customer service while further scaling our operations,” Richard Shearing, president of Premier Truck Group, said in the release.
Premier Truck Group has grown to 37 dealerships in North America with around $2.5 billion in annual revenue — $1.1 billion of which was added in the past year through acquisitions. It took over Kansas City Freightliner earlier this year, tacking on $450 million in annual revenue.