President of Peter Pan Bus Lines, Inc. Peter A. Picknelly announced that his company has acquired Bonanza Bus Lines and Pawtuxet Valley Bus Lines of Rhode Island from CoachUSA.
The acquisition doubles the size of Peter Pan, already the nation’s largest privately owned motor coach company, according to a company release.
Peter Pan has also acquired three other New England bus companies – Arrow Bus Line of Connecticut, CoastUSA Boston and Main Line of Portland, all from CoachUSA, a division of Stagecoach, Ltd., based in Scotland.
The company estimates that sales will increase to more than $100 million annually, and Peter Pan’s fleet of buses and employees will increase from 750 to 1,500.
Picknelly has appointed the former owners of the Rhode Island bus lines, George Sage, as a transition consultant for Bonanza, and Stephen Archambault as general manager, to operate Pawtuxet Valley and the former CoachUSA Boston. He has also hired Brian Schattle, former CoachUSA vice president and regional manager of all five acquired bus lines, as a operating and financial consultant.
