Paccar Invests In Dealership Network
October 18, 1999
Paccar, parent company of Peterbilt and Kenworth, has bought stock in the largest network of Peterbilt dealerships in North America.
Paccar is buying nearly a million shares of common stock of Rush Enterprises, based in San Antonio. This will give Paccar about 14% of the company's outstanding stock. Mr. Rush will still be the largest stockholder, with approximately 39%.
Rush Enterprises operates a network of Peterbilt and John Deere dealerships in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. The company also recently announced an agreement to sell Dorsey trailers.