The Pete Store Acquires Peterbilt of Knoxville Inc.

The Pete Store Inc., a Maryland-based heavy truck dealer has acquired Peterbilt of Knoxville Inc., a dealer group with three locations in the Southeast. The Knoxville group is the eighth-largest dealer group in the nation

by sales and has locations in Knoxville, Tenn., Greenville, S.C. and Ringgold, Ga. When combined with The Pete Store's existing locations in Baltimore, Md., Raphine, Va. and Richmond, Va., it forms one of the largest Peterbilt Dealer groups in the country with more than $300 million in sales.
"The acquisition of the Knoxville group represents substantial growth for our organization. The decision followed careful consideration for the direction of this organization and its long-term goals," said John Arscott, president of The Pete Store. "The Knoxville group is a company with strong business fundamentals, an incredibly loyal customer base, and is located in one of the fastest-growing regions in the country. I am excited about the challenge and confident that our customers will see value in our expanded service area."
The acquisition was finalized April 1, 2007, and Nate Frederick was appointed general manager of the newly acquired locations.
News of growth follows an announcement that The Pete Store delivered the industry's first Class 8 Hybrid truck to Wal-Mart Stores Inc., in partnership with Peterbilt Motors and Eaton Corp. This innovative power system has been estimated to save up to $9,000 a year in fuel usage.
The Pete Store Inc. operates six Peterbilt Truck dealerships throughout the eastern United States. They offer a wide range of services including the sales, service, parts, leasing and financing of Peterbilt trucks. To find out more about The Pete Store, visit www.thepetestore.com.