Rush Enterprises Inc. announced today that it acquired substantially all of the assets of El Paso Great Basin Trucks Inc., a Peterbilt truck dealership. The acquisition provides Rush with the exclusive rights to sell Peterbilt trucks and parts from two new locations in El Paso and Las Cruces, which encompasses most of west Texas and southern New Mexico.
The transaction was valued at approximately $2.5 million with the purchase price paid in cash. Rush intends to operate El Paso Trucks as a full-service Peterbilt franchise, and will begin to integrate their operations into the Rush Truck Centers immediately.
Rush had revenues of $897.4 million during 2000 while El Paso Trucks had revenues of approximately $34.1 million during 2000. El Paso Trucks recorded unaudited pretax income of approximately $896,000 for the year ended 2000 and an unaudited pretax loss of approximately $25,000 for the seven months ended July 31. Rush, which operates the largest network of Peterbilt heavy-duty truck dealerships in North America, John Deere construction equipment dealerships in Texas and Michigan, and three of the largest farm and ranch superstores in America, now operates 34 truck locations in seven states.