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Penske Expects McCoy Freightliner Acquisition to Generate $200M Annually
Penske Automotive Group Inc. recently acquired McCoy Freightliner, a retailer of medium and heavy-duty commercial trucks, located in Oregon. The McCoy acquisition is expected to generate $200 million in annualized revenue, building further scale within the company’s wholly owned Premier Truck Group (PTG) subsidiary.
McCoy adds two full-service dealerships (Portland, OR and Salem) and a re-marketing center (Portland, OR) to Premier Truck Group’s existing operations.
“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,” says Richard Shearing, PTG president.
PTG now operates 37 North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Utah, Idaho and Ontario, Canada, which are expected to generate $2.5 billion in annual revenue.
- ◦Sale/Acquisition
