Penske Automotive Group has acquired McCoy Freightliner, an Oregon-based retailer of medium and heavy-duty commercial trucks. 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.
McCoy adds two full-service dealerships (Portland and Salem, Ore.) and a remarketing center (Portland, Ore.) to Premier Truck Group’s existing operations.
Commenting on the acquisition, PTG President Richard Shearing says, “We are thrilled to welcome McCoy Freightliner to Premier Truck Group. 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.”
[RELATED: 2021 Successful Dealer Award finalist Premier Truck Group]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.