Team Penske and Snap-on Announce Multi-Year Extension
August 27, 2014
MOORESVILLE, N.C. (August 27, 2014) – Building on one of the strongest and enduring relationships in motorsports, Team Penske announced today that it has extended its long-time partnership with Snap-on Incorporated.
The multi-year extension between the two organizations adds to Team Penske’s longest active sponsorship as it celebrates a 33-year bond with Snap-on in 2014.
“Team Penske has been proud to call Snap-on a trusted partner for over 33 years and we are happy to announce that we will continue to work together for years to come,” said Roger Penske. “Our teams know that they are using the very best with Snap-on tools and equipment and we appreciate all that their reliability, quality and partnership has meant to our success together over the years.”
Under the terms of the renewed relationship, Snap-on will continue to be featured as an associate sponsor of all Team Penske cars competing in NASCAR and INDYCAR. Snap-on will also serve as a primary sponsor of a Team Penske car in the NASCAR Nationwide Series with the specific races to be announced at a later time.
“We’ve enjoyed a tremendous relationship with the Penske organization for more than 30 years, driven and strengthened by our shared beliefs in extraordinary customer service, solving critical problems and a respect for the unique challenges of vehicle performance,” said Nick Pinchuk, chairman and CEO of Snap-on Incorporated. “Whether in the pits or in the service bay, we feel like we’re a part of their team, and we have benefited from working with them over the years. Our customers and franchisees like knowing that Snap-on is connected with a winning organization and we’re pleased to continue our partnership.”
About Snap-on Incorporated
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.1 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
About Team Penske
Team Penske is one of the most successful teams in the history of professional sports. Competing in a variety of disciplines, cars owned and prepared by Penske Racing have produced more than 390 major race wins, over 450 pole positions and 25 National Championships. The team has also earned 15 Indianapolis 500 victories in its storied history. For more information about Team Penske, please visit www.teampenske.com.