Penske Truck Leasing announced it has reached an agreement to acquire the assets of Rochester, N.Y.-based DeCarolis Truck Rental Inc. Financial terms were not disclosed. This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction on December 17, 2021.
Founded over 80 years ago, DeCarolis Truck Rental is a family-owned and operated company headquartered in Rochester, N.Y. They provide truck leasing, rental, maintenance and repair services to the food processing and distribution, consumer distribution and freight hauling industries. They employ approximately 175 people, maintain a fleet of approximately 2,350 units, and service customers from 10 locations.
Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, Penn. Penske Truck Leasing operates more than 350,000 vehicles and serves customers from more than 1,300 locations in North America, South America, Europe, Australia and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions.