The Penske Automotive Group has inked a deal to buy Western Star Australia for $200 million from Transpacific Industries Group.
Western Star Australia distributes commercial vehicles, related spare parts and aftermarket support in Australia, New Zealand and parts of Southeast Asia primarily for Western Star, MAN and Dennis Eagle through its network of more than 80 independent dealers.
“Strong market dynamics, multiple growth options and one of the largest and well-established dealer networks in Australia and New Zealand enhance the business opportunity. We believe that our existing relationships with heavy and medium-duty truck manufacturers and our experience in operating distribution and dealership-related businesses provide us with a unique opportunity to expand our business while potentially providing a steppingstone to Southeast Asian markets for other parts of our business.”
The transaction is expected close by September.