TNI || New Delhi || 07th March 2022
Team Truck Centres, a dealer of mid and heavy-duty Freightliner and Western Star commercial vehicles situated in London, Ontario, has been acquired by Penske Automotive Group.
Penske expects the deal, which was announced in the last week of February, to generate around $150 million in annualised revenue while expanding its Premier Truck Group subsidiary.
Premier Truck Group President Richard Shearing commented that they are happy to welcome Team Truck Centres.
He adds that these additional facilities complement their existing operations in Ontario, improve overall scalability, and expand the ability to repair trucks remotely via Team Truck Centres mobile product support vehicles.
The deal comprises four full-service dealerships in Ontario, according to Penske. In Canada, Premier Truck Group will now have 11 commercial truck dealership sites.
This also means the subsidiary will manage 41 North American commercial truck sites across Georgia, Oklahoma, Oregon, Utah, Texas, Tennessee, Idaho, Kansas, Missouri, and Ontario, Canada, with a combined yearly revenue of approximately $3 billion.