Home » PENSKE AUTOMOTIVE GROUP ACQUIRES TEAM TRUCK CENTRES IN ONTARIO, CANADA

PENSKE AUTOMOTIVE GROUP ACQUIRES TEAM TRUCK CENTRES IN ONTARIO, CANADA

Represents $150 Million in Annualized Revenues

BLOOMFIELD HILLS, Mich., Feb. 28, 2022 /CNW/ — Penske Automotive Group, Inc. (NYSE: PAG), a diversified worldwide transportation providers firm and one of many world’s premier automotive and industrial truck retailers, in the present day introduced that it has acquired TEAM Truck Centres (“TEAM”), a retailer of medium and heavy-duty Freightliner and Western Star industrial vehicles, positioned in Ontario, Canada. The acquisition is predicted to generate roughly $150 million in annualized income, constructing additional scale inside the Firm’s wholly-owned Premier Truck Group (“PTG”) subsidiary.

TEAM has been working in southwest Ontario, Canada for over 45 years and is without doubt one of the largest and most-well-respected industrial truck dealerships in Canada. TEAM provides 4 full-service dealerships in Ontario (Cambridge, London, Sarnia, Windsor) to Premier Truck Group’s current operations, bringing the corporate’s industrial truck dealership operations to eleven places in Canada. Commenting on the acquisition, PTG President Richard Shearing mentioned, “We’re thrilled to welcome TEAM Truck Centres to Premier Truck Group. These new places are complementary to our current places in Ontario, enhance our scalability, and enhance our capacity to service vehicles remotely by TEAM Truck Centres cellular product assist automobiles.”

PTG now operates forty-one (41) North American industrial truck places in Texas, Oklahoma, Oregon, Tennessee, Georgia, Kansas, Missouri, Utah, Idaho and Ontario, Canada, which generate almost $3 billion in combination annual income.

About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation providers firm and one of many world’s premier automotive and industrial truck retailers. PAG operates dealerships principally in the US, the United Kingdom, Germany, Italy, and Japan and is the biggest retailer of business vehicles in North America for Freightliner. PAG additionally distributes and retails industrial automobiles, diesel and fuel engines, energy programs and associated components and providers principally in Australia and New Zealand. Moreover, PAG owns 28.9% of Penske Transportation Options, a enterprise that manages a fleet of over 350,000 automobiles offering progressive transportation, provide chain and know-how options to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the many World’s Most Admired Firms by Fortune Journal. For extra info, go to the corporate’s web site at www.penskeautomotive.com.

About Premier Truck Group
Premier Truck Group, headquartered in Dallas, Texas, supplies clients with a premium number of new Freightliner and Western Star industrial automobiles. Moreover, Premier Truck Group additionally gives a big number of used truck and gives full-service components and repair operations. For extra info, go to the corporate’s web site at www.premiertruck.com

Warning Regarding Ahead Trying Statements
Statements on this press launch could contain forward-looking statements, together with forward-looking statements relating to Penske Automotive Group, Inc.’s monetary efficiency and progress plans. Precise outcomes could fluctuate materially due to dangers and uncertainties which might be troublesome to foretell. These dangers and uncertainties embrace, amongst others, the period, severity, and determination of the COVID-19 pandemic, authorities mandated restrictions on our enterprise in mild of COVID-19 or in any other case, financial and geo-political situations usually, situations within the credit score markets, adjustments in rates of interest and international foreign money alternate charges, adjustments in tariff charges, adjustments within the distribution mannequin in our worldwide operations through company or different means, adversarial situations affecting a selected producer, together with the adversarial impression to the car and components provide chain as a result of restricted car availability as a result of COVID-19 pandemic, the scarcity of automotive semiconductor chips or different elements, pure disasters, recall or different disruptions that interrupt the availability of automobiles or components to us, adjustments in shopper credit score availability, the end result of authorized and administrative issues, and different elements over which administration has restricted management. These forward-looking statements ought to be evaluated along with further details about Penske Automotive Group’s enterprise, markets, situations, and different uncertainties, which might have an effect on Penske Automotive Group’s future efficiency. These dangers and uncertainties are addressed in Penske Automotive Group’s Kind 10-Okay for the 12 months ended December 31, 2021, and its different filings with the Securities and Trade Fee (“SEC”). This press launch speaks solely as of its date, and Penske Automotive Group disclaims any responsibility to replace the data herein.

Inquiries ought to contact:

Shelley Hulgrave

Anthony R. Pordon

Govt Vice President and

Govt Vice President Investor Relations

Chief Monetary Officer

and Company Improvement

Penske Automotive Group, Inc.

Penske Automotive Group, Inc.

248-648-2812

248-648-2540

[email protected]

[email protected]

Penske Automotive Group brand. (PRNewsFoto/Penske Automotive Group)

Premier Truck Group Logo (PRNewsFoto/Penske Automotive Group, Inc.)

Premier Truck Group Emblem (PRNewsFoto/Penske Automotive Group, Inc.)

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SOURCE Penske Automotive Group, Inc.; Premier Truck Group

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