To expand commercial truck business Penske Automotive Group, has announced to acquire Kansas City Freightliner (KCFL). The KCFL is 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.
The KCFL acquisition is expected to generate $450 million in annualized revenue, building further scale within the Company’s wholly-owned Premier Truck Group subsidiary.
- Premier Truck Group, located in Dallas, Texas, provides customers with a premium selection of new Freightliner and Western Star commercial vehicles.
The prominent expansions and deals by Penske Group are featured below:
December 2020: Penske Logistics had successfully completed its previously announced acquisition of Black Horse Carriers, Inc., a privately held logistics company based in Chicago. Penske Logistics is a Penske Transportation Solutions company with operations in North America, South America, Europe and Asia. Penske Logistics provides supply chain management and logistics services to leading companies around the world.
November 2020: Penske Truck Leasing had built a new state-of-the-art facility in Selma, Texas. The new location allow the transportation company to better service its existing customer base in the area and also provide capacity to serve new customers.
November 2020: Penske Truck Leasing has put a battery electric eM2 from the Freightliner Innovation Fleet into service with Temco Logistics, a premier final-mile, white glove solutions provider delivering and installing appliances and home goods.
January 2020: Penske Truck Leasing had opened a new state-of-the-art facility in DeForest, Wisconsin. Penske in DeForest offers customers consumer and commercial truck rental in addition to full-service truck leasing and contract truck fleet maintenance. The 20,040-square-foot facility sits on 8.35 acres. It is equipped with four drive through service bays, an automated wash bay, a three-lane fuel island, two tire carousels, overhead service bay cranes, a building canopy and high-tech rapid lifting and lowering mobile column truck lifts.
About Penske Automotive
Michigan based Penske Automotive Group is a multinational transportation services company. The company operates automotive and commercial truck dealerships predominantly in the United States, the United Kingdom, Canada, and Western Europe. The company also distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
About Penske Corporation
Penske Corporation, headquartered in Bloomfield Hills, Michigan, United States, is a leading diversified transportation services company. The company operates in a variety of industry segments, including retail automotive, truck leasing, transportation logistics and professional motorsports through subsidiaries. The groups subsidiary includes Penske Truck Rental, Penske Logistics, Ilmor Engineering, Team Penske, Detroit Grand Prix and Penske Entertainment Corp manages businesses globally. The company employs more than 56,000 people globally and operating in over 3,200 locations worldwide.