Gordon Buys Post Freight Assets

Gordon Trucking Inc. of Pacific, Wash., purchased the general freight assets of Post Trucking in nearby Sumner.

The transaction included 60 tractors, 54 53-foot trailers and 30 sets of 28-foot double-trailers. Terms were not announced.

GTI will use the assets and drivers from Post’s operations to accommodate its expanding book of business, company officials said. Gordon operates 530 company-owned trucks and uses about 150 owner-operators to provide regional and long-haul dry van truckload service.

Lynn Cockrum, chief financial officer for GTI, said the company’s goal is to reach 740 power units and annual revenue of $106 million in 1999.

“The nice thing about this deal was that their business was mostly inside our geographic market,” Cockrum said. “And both are family-owned businesses.”

Post will continue to provide warehousing and distribution services as well as expedited freight services for airlines and freight forwarders along the West Coast.

Dale Scott, senior vice president of Post, said the sale “allows us to refocus our growth on our other divisions.” He added that the truckload market was “extremely competitive” and “hard for a small company to compete.”

Post started an air freight trucking operation in 1997 and now offers 1.2 million square feet of warehousing space in California and Washington. The company will keep about 70 company-owned tractors and 90 trailers, and expects to generate revenue of $16 million in 1999.