Yesterday Penske Truck Leasing announced that it has entered into an agreement to acquire Old Dominion Truck Leasing.
Financial Details Of Acquisition Not Released
Penske’s President and CEO Brian Hard stated, “Old Dominion Truck Leasing and Penske Truck Leasing customers will benefit from synergies in our products, technology and services available across our combined network of facilities. We share a strong commitment to service and will continue to enhance the high-quality service their customers have come to expect.”
The terms of the acquisition were not disclosed. The deal is expected to be completed in July 2017.
The acquisition will add 1,400 trucks, tractors, and trailers to Penske’s fleet.