Penske Automotive Group Inc. has acquired McCoy Freightliner (“McCoy”), a retailer of medium and heavy-duty commercial trucks, located in Oregon. The McCoy acquisition is expected to generate approximately $200 million in annualized revenue, building further scale within the company’s wholly-owned Premier Truck Group (“PTG”) subsidiary, the company says. McCoy adds two full-service dealerships (Portland, OR and Salem, OR) and a remarketing center (Portland, OR) to Premier Truck Group’s existing operations.
PTG now operates 37 North American commercial truck locations in Texas, Oklahoma, Oregon, Tennessee, Georgia, Utah, Idaho and Ontario, Canada, which the company expects to generate $2.5 billion in annual revenue.
Year-to-date, Penske Automotive Group has added approximately $1.1 billion in expected annualized revenue through the completion of retail automotive and commercial truck dealerships.