The Penske Automotive Group has signed an agreement to acquire Western Star Trucks Australia, a distributor of commercial vehicles, related spare parts and aftermarket support across Australia and New Zealand, as well as portions of Southeast Asia. The seller is Transpacific Industries Group Limited, and the total purchase price is expected to be roughly $200 million. Penske anticipates that transaction will close this quarter.
The business to be acquired primarily distributes heavy- and medium-duty trucks for Western Star, MAN and Dennis Eagle through a network of more than 80 independent dealers, while serving customers across a number of industries, including on-highway, logistics, construction, mining, manufacturing, agricultural and waste/refuse collection.
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